The Austrian School is a school of economic thought which bases its study of economic phenomena on the interpretation and analysis of the purposeful actions of individuals.
22.
But unlike traditional pundits, who often oversimplify complex economic phenomena for a mass audience, these people say their theories are simply too complicated for most people to grasp.
23.
Most importantly he fundamentally rejected the use of mathematical methods insisting that the function of economics was to investigate the essences rather than the specific quantities of economic phenomena.
24.
Contemporary economic sociology may include studies of all modern social aspects of economic phenomena; economic sociology may thus be considered a field in the intersection of economics and sociology.
25.
In 2001, Hoppe published " Democracy : The God That Failed " which examines various social and economic phenomena which, Hoppe argues, are problems caused by democratic forms of government.
26.
Cliffe Leslie defended the inductive method in political economy, against the attempt to deduce the economic phenomena of a society from the so-called universal principle of the desire of wealth.
27.
In this context, we may include the study of the relations between the distribution of particular economic phenomena and the distribution of more general phenomena such as income or patrimony.
28.
The stringency of the simplifying assumptions inherent in this approach make the model considerably more tractable, but may produce results which, while seemingly precise, do not effectively model real-world economic phenomena.
29.
The discipline should not be defined in terms of a set of favoured assumptions or techniques, but in terms of the use of rigorous scientific approaches to understand and explain economic phenomena.
30.
Lastly, it's the convenient way in which socio-economic phenomena are usually explained away not in socio-economic terms but through conspiracies and broad generalisations which can unfortunately take the form of blatant racism.
