 What is the role of the discussion of economic models?
These two features−the global scale of interdependence of human action, and the systematic acceleration of innovation, make contemporary life a bit like a slow motion disaster, in one important respect. Trains and planes, telegraph and telephone, all brought many people into the same causal space. The solution to this increased complexity in the late 19th, early 20th century was to increase the role of structure and improve its design. During the first two-thirds of the twentieth century, this type of rationalization took the form of ever-more complex managed systems, with crisp specification of roles, lines of authority, communication and control.
 Representing decisions with economic models only is not going to give the whole picture
 Representing decisions with economic models only is not going to give the whole picture  The profit margin difference for Toyota versus older car companies can be easily explained  Tracking purchases of conoms over time can give an insight into other economic decisions  Economists have a strong idea of where the flexible points in a system need to be