By Mark Blyth, Tomás Fernández Aúz
"La austeridad, nos cube Mark Blyth, profesor de l. a. Brown collage, es una thought peligrosa: no funciona en el mundo actual en que habitamos. En el mundo imaginario de sus partidarios, los recortes siempre afectan a otro. Desgraciadamente, como lo demuestra Europa, en este mundo actual de nuestros días no hay "otro" que asuma los costes". Blyth ha escrito un libro extraordinario, rico en rules y libre de jerga económica, que analiza l. a. realidad de los angeles main issue, los angeles génesis histórica de las rules que han llevado a los angeles doctrina de l. a. austeridad como remedio, l. a. evidencia de su fracaso en todos los casos en que se ha intentado aplicarla, y que concluye con l. a. perspectiva de un futuro en que, como l. a. austeridad no disminuye l. a. deuda, sino que l. a. aumenta, nos aguarda un porvenir de represión financial y aumento de los impuestos. Austeridad ha recibido elogios de Robert Skidelsky, quien lo califica como "un análisis fascinante", de Martin Wolf, que habla en el monetary occasions de "un espléndido libro", y de John Quiggin, quien asegura que se trata de "una guía esencial para cualquiera que desee entender l. a. depresión actual".
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Additional resources for Austeridad: Historia de una idea peligrosa
It is more natural to explicitly model a similarity function between acts. Moreover, in many cases the similarity function is most naturally deﬁned on problem-act pairs. For example, “Driving on the left in New York” may be more similar to “Driving on the right in London” than to “Driving on the left in London”, “Buying when the price is low” may be more similar to “Selling when the price is high” than to “Selling when the price is low”, and so forth. In short, we would like to have a model in which the similarity function s is deﬁned on problem-act pairs, and, given a memory M and a decision problem p, each act a is evaluated according to the weighted sum U (a) = Up,M (a) = s((p, a), (q, b))u(r).
Prologue Our deﬁnition has two properties that we ﬁnd necessary for any deﬁnition of rationality and one that we ﬁnd useful for our purposes. First, as mentioned above, it relies on cognitive or introspective data, as well as on behavioral data, and it cannot be applied to decision makers who cannot understand the analysis of their decisions. According to this deﬁnition it is meaningless to ask whether, say, bees, are rational. Second, it is subjective in nature. A decision maker who, despite all our preaching, insists on making framedependent choices, will have to be admitted into the hall of rationality.
Speciﬁcally, we ﬁnd that expected utility theory is not always cognitively plausible, and that the behavioral approach, often quoted as its theoretical foundation, is untenable. Moreover, we believe that expected utility theory is not always successful as a normative theory, because it is often impractical. And in those cases where one cannot follow expected utility theory, it is neither 27 A theory of case-based decisions irrational, nor even boundedly rational, to deviate from Savage’s postulates.
Austeridad: Historia de una idea peligrosa by Mark Blyth, Tomás Fernández Aúz