New Economic Theory Missing the Point or Could Be Right On Point?

This latest blog post will explore some ideas that I have gathered by reading Noah Smith's blog. In a blog post about two interesting articles read by Noah Smith about new paradigms in economic theory, it is definitely interesting to think about new possible paradigms in economic theory as the field of theory has somewhat stagnated as of late. While it is interesting to think about all of the stuff Nick Hanauer and Eric Liu have to offer, I want to nail it down to an idea that I have on what they have written.

In the article, they talk about social preferences and cooperative games. I have explored both of these interesting concepts in previous thought bubbles, with some of the others as well and it has given me an excellent idea to write a working paper on this particular issue, which excentuates what some others have worked on in social preferences and cooperative games. What I'm going to do differently in this working paper is utilize them to talk about methods of how it interacts with certain fields in Political Economy. While I can elaborate in person about these issues, it would be utmost difficult to surmise that I can find a solution here to the question at hand right away. For those who are interested in these new possible paradigms in Political Economy, I am also combining it with other more established methods of research that has been conducted it before. For those who are interested in what Hanauer and Liu have written in this short, but rather informational piece, the link is here.