Economics, But Not as You Know It

Economics, But Not as You Know It
Dr Ha-Joon Chang
1 May 2014
London School of Economics and Political Science (LSE)

Thomas Piketty


1:02:45 Economy predictions exist to make astrology respectable.
Yes, you can predict certain things, but that requires quite restrictive assumptions in very fixed situations.

Economy can never be a science, because:
a. All of its categories are political, and
b. Unlike objects studied by natural science, human have free-will.

Entrepreneurs–by definition–behave in an irrational way.


The Last Mile Problem

Solving Social Problems with a Nudge
Sendhil Mullainathan
Behavioral economist
TEDIndia 2009

MacArthur winner Sendhil Mullainathan uses the lens of behavioral economics to study a tricky set of social problems — those we know how to solve, but don’t. We know how to reduce child deaths due to diarrhea, how to prevent diabetes-related blindness and how to implement solar-cell technology … yet somehow, we don’t or can’t. Why?

cited in:

How Can A Nudge Save A Life?
TED Radio Hour
June 24, 2016

October 24, 2015

Models and modeling are basic to human play

Models and modeling are basic to human play. They are basic to a great many other human enterprises as well, for example, science (a diagram of a cell), architecture (model buildings), engineering (model bridges), art (the clay figure the sculptor makes before making the real statue), video and film (storyboards), writing (outlines), cooking (recipes), travel (maps), and many more.
p. 28

why are models and modeling important to learning?
Because while people learn from their interpreted experiences—as we have argued above—models and modeling allow specific aspects of experience to be interrogated and used for problem solving in ways that lead from concreteness to abstraction.[21]
p. 30

Gee, James Paul. “Learning and Games.

What can be modeled in Scratch?
(from the Science STAAR April 2015)

mirrors and image on an object

electric circuit
July 18, 2013
the user builds a circuit by placing the parts on the wires

electric circuit
by asnewbrain
Mar 1, 2015
electron movement is simulated

electric circuit
by Dan102
Feb 16, 2013


simple electric circuit

Nov 2010
drag and drop the two wires, the battery …