Posts byDirk Damsma

I am specialized in economic methodology and methodology of or for Business Studies. At Economics and Business I teach economic methodology and macro-economics and coordinate the thesis writing process for the tracks Economics and Economics and Finance. My columns will soon be published on as well.

Criticism and Modern Economics

Contrary to popular belief and university propaganda, academia do not always foster an independent mind. In their first course on microeconomics, every budding economist is confronted with the notion of rational economic man allocating his scarce resources to fulfill as many of his stable and given preferences as possible. If these budding economists are like

On Planet Economics Killing Planet Earth is Rational

Constant economic growth is not doing the planet any favors. ‘Global average temperature has already risen by 0,8°C,’ ‘[a]round 40% of the world’s agricultural lands is now seriously degraded’ and ‘over 80% of the world’s fisheries are fully or over-exploited’ (Raworth 2017: 5, based on: Climate Action Tracker 2016; Global Agriculture 2015 and FAO 2010),

The Econocracy

In political parlance and mainstream media alike, the economy is often presented as an entity in its own right. It ‘can speed up, slow down, improve, decline, crash or recover, but no matter what it does, it must remain at the center of political attention’ (Earle, Moran & Ward-Perkins 2016: 7). Like the demigods of

Incentives in Financial Markets

An Anthropological and Political Perspective on the Financial Crisis   

As the majority of economists were (and most of them still are) working on a model in which markets ensure superior outcomes if left to themselves, they could not foresee the financial crisis. All the deregulation that happened since the early 80s, the supposed rational behavior of market participants, the technological capacity for calculating risks