By Steve Denning – Economics, writes Nobel Prize winner Ronald Coase, as currently presented in textbooks and taught in the classroom does not have much to do with business management, and still less with entrepreneurship.
If the only problem of economists was one of irrelevance, then we could view the exchanging of econometric models of largely irrelevant issues by academics in ivory towers with the same nonchalance that we view medieval theologians arguing about how many angels can dance on the head of a pin.
The sad reality is that the people do pay attention to economists and their models. more> http://tinyurl.com/cfx3tbt
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- Saving Economics from the Economists | Ronald Coase | Harvard Business Review (entrepreneurshipmatters.com)
- Coase on Mainstream Economics (businessinsider.com)
- Economics as a Tool for the State, Rather than a Window to Enlightenment (coordinationproblem.org)
- Isolated from the Ordinary Business of Life (feldsmarch.com)