Rethinking Economics: New Approaches Challenge Conventional Wisdom, Reshape Social Institutions
The article "Economics as a Process" explores different ways of thinking about economics beyond the usual neoclassical approach. It looks at ideas like transaction-cost economics, evolutionary theories, and modern Austrian economics. The researchers focus on how economic processes work, not just on reaching a balance. They also consider the limits of human rationality and the role of social institutions in economic decisions. Overall, the article shows that there are alternative ways to understand and study economics that go beyond traditional theories.