What do you think about this claim? It seems correct to me. Now you cannot say anything to an economist without producing a model.
George A. Akerlof. 2002. "Behavioral Macroeconomics and Macroeconomic Behavior." American Economic Review, 92: 3 (June): pp. 411-33. 413: "Prior to the early 1960�s, economic theorists rarely constructed models customized to capture unique institutions or specific market characteristics. Edward Chamberlin�s monopolistic competition and Joan Robinson�s equivalent 8 were taught in graduate and even a few undergraduate courses. However, such "specific" models were the rare exception; they were presented not as central sights, but instead as excursions into the countryside, for the adventurous or those with an extra day to spare. During the early 1960�s, however, "special" models began to proliferate as growth theorists, working slightly outside the norms of standard price-theoretic economics, began to construct models with specialized technological features: putty-clay, vintage capital, and learning by doing." -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
