@waltwooton @futurebird

One big and very recent development is the #ergodiciity theory in #economics. It throws things like the entire #behavioral economics to the bin and shows how rational the people actually are, confirmed experimentally. All of the taken out of the butt utility functions disappear. It's very satisfying to read.

The foundational paper:
https://www.nature.com/articles/s41567-019-0732-0

But again, it's #microeconomy, way less political area. I'm personally most familiar with the market microstructure field. If you wanted something not very political, try those keywords. It's most connected to the mathematical decision theory, the PvE version of game theory, which is PvP.

The ergodicity problem in economics - Nature Physics

This Perspective argues that ergodicity — a foundational concept in equilibrium statistical physics — is wrongly assumed in much of the quantitative economics literature. By asking the extent to which dynamical problems can be replaced by probabilistic ones, many economics puzzles are resolved in a natural and empirically testable fashion.

Nature

Excellent take on one of the reasons* why the neoliberalization of society makes the overall economy more inefficient:

"At a micro-level, the dispersion and precarity of life outcomes in the United States make us all as individuals behave as if we are more greedy [...] I've described this before as "predatory precarity".

* : There are more, e.g. preparation of the ground for fascism and the destruction of te environment seem also to be clearly limiting factors...

@lykso  

#Economy #Degrowth #PostGrowth #SocialSecurity #Welfare #Neoliberalism #Capitalism #EcomomicEfficiency #MacroEconomy #MicroEconomy

Looking for #recomendations on meaningfull #news site/ #rssfeed to read. Something without clickbait headlines, shock reporting and overally lousy articles. #foss #environment #lgbtqi+ #labour #philosophy #socialcare #smallbusiness #sustainability #microeconomy #localsourcing #eu themes. Reason being, in this day and age, I have found nothing meaningfull to read in this departments, save for specialised essay mags / regional outlets. Thanks in advance. Cheerio
Is anyone aware of an objective critique of Kate Raworth's Doughnut Economics? #EconomyofCities #UrbanEconomics #MicroEconomy #economics