1. Benefits to be gained from the Study of the History of Econo
... the dynamic, evolutionary interaction of economic theory with the prevailing real world economy and with other non economic dimensions of society." (Kerr et al, pp. 90) It is extremely important to always have consideration for the history of economic thought as it is always invaluable to ensure ... knack of forecasting extremely accurately. Kerr suggests that studying the history of economic thought enriches our understanding of contemporise economic thought. (Kerr et al, pp 91). This suggestion is supported by many facets in the development or evolution of economic theory. The need for...
- Word Count: 1736
- Approx Pages: 7
- Has Bibliography
- Grade Level: Undergraduate