Economics and Power Dynamics

Economics traditionally overlooks power dynamics, which are crucial aspects of human experiences in markets. Despite influential figures like Machiavelli, Hobbes, and Angela Davis emphasizing power, economics lacks an epistemological framework to comprehend its impact on markets. The discipline tends to ignore the significant influence of power differences on economic participation, viewing such issues as beyond its scope. This contrasts with fields like turbulence modeling, which are highly complex but well understood mathematically.