Economics Summary and review paper Essay Example | Topics and Well Written Essays - 4000 words

Economics Summary and review paper - Essay ExampleFurther, he discusses the often pixilated state of being human, along with the challenges that our often conflicting needs and wants pose. In doing so, Simon conceptualizes the constructs humans use to make sense of their condition and how they apply a vulgar denominator to the various claims that are made on our conflicting stimuli, which may be called the Good or utility. His penchant for the human element is what led him to the social informations is general, and political economy more specifically.Simon depicts economic science as an interest in human decision making, and especially an interest in how human beings cope with the complexities, the uncertainties, and the goal conflicts and incommensurabilities of everyday ad hominem and professional life. He asserts that economics is a critical discipline because the allocation of individual or organizational resources - how it is done, and how it ought to be done - remains a fundamental question about the human condition. In order to address this central question of allocation, Simon found it necessary to migrate from his home disciplines of political science and economics into uncharted territory, such as psychology, computer science and artificial intelligence. According to Simon, these disciplines are where he has spent the bulk of his time since reaching this realization.This broadened view of economics provided Simon with tremendous insight into human economic behavior. He saw a creature of bounded rationality using techniques of heuristic search to find satisficing - good-enough - courses of action. His grow disciplinary experience enabled him to apply computer modeling to show that these techniques could account for the data of human problem solving in a range of some(prenominal) simple and complex situations. Simons ideas, by his own admission, remain outside of the mainstream of modern economics, but he asserts that they will eventually find their way into the main stream. He maintains that they provide a realistic picture of human choice, a picture that may instruct us about some of the most puzzling problems confronting economics today decision making under uncertainty, business cycles with their accompanying natural or unnatural unemployment, the role of entrepreneurship in investment, and others.He goes on to consider the duties incumbent on humans from an economic standpoint, both positive and negative. These duties might be considered from an individual and societal point of view, and encompass the realm from doing no harm to loss at least as attractive a range of options to future generations to eliminating poverty. He concludes that a merger of scientific disciplines such as he embraced in his own life holds the promise of offering better answers than the parochialism of life-long adherence to a single discipline. Ultimately, Simon has sought to apply concrete science and mathematics to social science as a fie ld of virgin snow on which one could imprint ones characters. His interdisciplinary approach promises to raise and answer questions for economics that might non otherwise have entered our consciousness.Scientific Humanism as an Ideal, Shigeto