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16. Review on the Study of Macroeconomics for Its Sustainability into the Digital Economy and Real World: Heterodox Insights

  • 2025
  • OriginalPaper
  • Chapter
Published in:
Authors
Antonio Sánchez-Bayón
César Bernal Bravo
Pedro Mellado Moreno
Published in
Global Investment Decisions in the Circular Economy
Publisher
Springer Nature Switzerland

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Abstract

This chapter delves into the crisis of mainstream macroeconomics, critiquing its excessive formalism and disconnection from real-world phenomena. It highlights the failures of neoclassical synthesis and New Keynesian approaches, which have led to repeated crises and a loss of credibility. The chapter proposes a heterodox alternative, combining Austrian Economics and New Institutional Economics, to offer a more realistic and comprehensive analysis. It also explores the impact of digitalization on economic education, advocating for the use of digital tools like FRED for teaching macroeconomics. The chapter concludes with a case study on the Phillips curve, demonstrating the practical application of these theories. By reading this chapter, you will gain a deeper understanding of the shortcomings of mainstream macroeconomics, explore alternative perspectives, and learn how digital tools can enhance economic education.
AI Generated

This summary of the content was generated with the help of AI.

This is part of Sánchez-Bayón’s PhD dissertation in Education at Universidad Rey Juan Carlos.

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previous chapter The Energy-Growth Nexus in Least Developed Countries: Empirical Insights on Renewable Energy and Energy Intensity
next chapter Sustainable Customer Relationship Management in Turkish Banking Sector: A Path to Long-Term Success
Title
Review on the Study of Macroeconomics for Its Sustainability into the Digital Economy and Real World: Heterodox Insights
Authors
Antonio Sánchez-Bayón
César Bernal Bravo
Pedro Mellado Moreno
Copyright Year
2025
Book
Global Investment Decisions in the Circular Economy

Print ISBN: 978-3-031-86235-9

Electronic ISBN: 978-3-031-86236-6

Copyright Year: 2025

DOI
https://doi.org/10.1007/978-3-031-86236-6_16
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