Summary of Economics Rules

The Rights and Wrongs of the Dismal Science

W.W. Norton, more...

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Economics Rules book summary
When can you trust economists to be right or wrong? And how do you know?

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8 Overall

8 Importance

7 Innovation

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Recommendation

Economist Dani Rodrik critiques the discipline of economics as a social science, acknowledging its occasional successes but also panning its many failures. He includes historical context, theory and clear explanations of how economists tackle real-world problems, and he manages to do all this without littering the text with mathematical equations or Greek letters intelligible only to specialists. Rodrik’s argument, which is quite accessible to the noneconomist, is educational and almost entertaining. getAbstract believes students, teachers and mentors dealing with economics and fiscal policy will appreciate such a rare feat in a book about the dismal science.

In this summary, you will learn

  • What economics can achieve
  • Why economists’ reliance on mathematical models often gives incorrect results
  • How the profession is evolving
 

Summary

“The Science of Economics”
Economists are often at odds with their peers in the social sciences. Social scientists believe economists are inclined to use simple approaches to examine and explain complex situations. Conversely, economists see social scientists as wordy, “soft,” and lacking...
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About the Author

Economist Dani Rodrik is a professor of international political economy at Harvard University’s John F. Kennedy School of Government and the author of The Globalization Paradox.


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