Inspired by recent developments in science studies, Professor Sent offers an innovative type of analysis of the recent history of rational expectations economics. In the course of exploring the multiple dimensions of rational expectations analysis, she focuses on the work of Thomas Sargent, an instrumental pioneer in the development of this school of thought. The treatment aims to illuminate some of the shifting negotiations and alliances that characterize the rise and shift of direction in rational expectations economics.
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Editorial Reviews
Review
"Esther-Mirjam Sent's book, in which she provides an account of the development of rational expectations theory from the perspective of Thomas Sargent's contributions, is a splendid contribution to the history of economic thought quite unlike other works in the field." The History of Political Economy
"Esther-Mirjam Sent presents a case study of the development of Thomas Sargent's macroeconomic program from its earliest days - pre-rational expectations - to its more recent forays into bounded rationality and artificial intelligence. There is no similarly detailed and complete study of any major figure in the new classical economics. Professor Sent clearly knows a great deal about her subject and is able to convey a great deal to the reader." Kevin D. Hoover, University of California, Davis
"Sent's book is like no other work in the history of economic thought. The subject matter is contemporary macroeconomic theory, and the dominant themes are symmetry, reflexivity, and the interest-ladenness of scientific theory. It is a fascinating story: provocative as well as compelling." D. Wade Hands, University of Puget Sound
"...a historical study of Thomas Sargent's research and his different interpretations and justifications of rational expectations, describing how they were shaped by his conceptual, experimental, and sociotechnical practices." Journal of Economic Literature
"Anyone interested in rational expectations and the new classical macroeconomics must read Sent's book on Thomas Sargent...It is also required for those wanting to see science studies and the history of economics done in new ways." The Eastern Economic Association
"Esther-Mirjam Sent presents a case study of the development of Thomas Sargent's macroeconomic program from its earliest days - pre-rational expectations - to its more recent forays into bounded rationality and artificial intelligence. There is no similarly detailed and complete study of any major figure in the new classical economics. Professor Sent clearly knows a great deal about her subject and is able to convey a great deal to the reader." Kevin D. Hoover, University of California, Davis
"Sent's book is like no other work in the history of economic thought. The subject matter is contemporary macroeconomic theory, and the dominant themes are symmetry, reflexivity, and the interest-ladenness of scientific theory. It is a fascinating story: provocative as well as compelling." D. Wade Hands, University of Puget Sound
"...a historical study of Thomas Sargent's research and his different interpretations and justifications of rational expectations, describing how they were shaped by his conceptual, experimental, and sociotechnical practices." Journal of Economic Literature
"Anyone interested in rational expectations and the new classical macroeconomics must read Sent's book on Thomas Sargent...It is also required for those wanting to see science studies and the history of economics done in new ways." The Eastern Economic Association
Book Description
Inspired by recent developments in science studies, Resisting Sargent offers an innovative type of analysis of the recent history of rational expectations economics. In the course of exploring the multiple dimensions of rational expectations analysis, Professor Sent focuses on the work of Thomas Sargent, an instrumental pioneer in the development of this school of thought. The treatment aims to illuminate some of the shifting negotiations and alliances that characterize the rise and shift of direction in rational expectations economics.
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0 of 1 people found the following review helpful:
5.0 out of 5 stars
Insightful Analysis of an Important Economist,
By DSGE "Corner of the World" (New York City, NY) - See all my reviews
This review is from: The Evolving Rationality of Rational Expectations: An Assessment of Thomas Sargent's Achievements (Historical Perspectives on Modern Economics) (Paperback)
There should be more works like this. Sent is incredibly smart and delves into the subject of analyzing Sargent's body of work with a passion. She obviously knows her stuff well, maybe even better than Sargent does. Her knowledge, though, extends into the philosophy and sociology of science and how it is created and this is where she draws her main points. Instead of a progressive work converging to the truth, Sent shows that rational expectations is obviously the work of a human being influenced by the colleagues around him and the current fads of the time, as any scientist is to some degree. Sargent is self-admittedly more a technician than a big picture guy. Reading this work saves someone a lot of time if they previously felt the need to master the rational expectations literature as a whole. Rather, much confusion will be saved by understanding its broader context. I feel I can now study macroeconomics being less beholden to learning the overwhelming technical points of rational expectations. If I ever choose to learn some of them, I know now the context in which they occurred and that they are not necessarily even regarded as the end result of a search for general truths, even by their creator.
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Inside This Book
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First Sentence:
The times were changing in the late 1960s. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
econometrically motivated interpretation, error term justification, achieving conceptual integrity, restricting distributed lags, symmetry among agents, making public predictions, economic variates, rational expectations economists, rational expectations economics, using classifier systems, neoclassical dynamics, adaptive computing systems, neoclassical econometrics, policy ineffectiveness proposition, science studies scholars, ontic interpretation, dynamic economic theory, very restricted environment, vector autoregressions, linear rational expectations models, discrete time data, econometric interpretation, classical central limit theorem, nonhuman agency, rational expectations econometrics Key Phrases - Capitalized Phrases (CAPs): (learn more)
Santa Fe Institute, Carnegie Mellon University, University of Minnesota, Thomas Sargent, John Holland, Neil Wallace, Chris Sims, Psychology Department, Mike Lovell, Monte Carlo, United States New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
The times were changing in the late 1960s. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
econometrically motivated interpretation, error term justification, achieving conceptual integrity, restricting distributed lags, symmetry among agents, making public predictions, economic variates, rational expectations economists, rational expectations economics, using classifier systems, neoclassical dynamics, adaptive computing systems, neoclassical econometrics, policy ineffectiveness proposition, science studies scholars, ontic interpretation, dynamic economic theory, very restricted environment, vector autoregressions, linear rational expectations models, discrete time data, econometric interpretation, classical central limit theorem, nonhuman agency, rational expectations econometrics Key Phrases - Capitalized Phrases (CAPs): (learn more)
Santa Fe Institute, Carnegie Mellon University, University of Minnesota, Thomas Sargent, John Holland, Neil Wallace, Chris Sims, Psychology Department, Mike Lovell, Monte Carlo, United States New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 100
books:
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13
books
cite this book:
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- Science as Practice and Culture by Andrew Pickering in Back Matter (1), Back Matter (2), and Back Matter (3)
- Rational Expectations and Econometric Practice - Volume 1 by Robert E. Lucas Jr. in Back Matter (1), Back Matter (2), and Back Matter (3)
- Political Economy by Allan H. Meltzer in Back Matter (1), and Back Matter (2)
- Equilibrium Business Cycle Theory in Historical Perspective (Historical Perspectives on Modern Economics) by Kim Kyun in Front Matter, and Back Matter
- Stabilizing Dynamics: Constructing Economic Knowledge (Historical Perspectives on Modern Economics) by E. Roy Weintraub in Front Matter, and Back Matter
See all 100 books this book cites
- Science Bought and Sold: Essays in the Economics of Science by Philip Mirowski in Front Matter, and Back Matter
- The Economic World View: Studies in the Ontology of Economics by Uskali Mäki in Front Matter, and page 358
- The Blackwell Guide to the Philosophy of Science (Blackwell Philosophy Guides) by Peter Machamer on page 309
- The Philosophy of Keynes' Economics: Probability, Uncertainty and Convention (Economics as Social Theory) by Sohei Mizuhara in Back Matter
- William Stanley Jevons and the Making of Modern Economics (Historical Perspectives on Modern Economics) by Harro Maas in Front Matter
See all 13 books citing this book
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