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Two psychologists, Daniel Kahneman and Amos Tversky, have shown through their research that using rule of thumb leads to biases when compared to "normal economic behaviour".
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"This is normal economic behavior".
What was sound economic behaviour before cannot be sound economic behaviour now".
The mathematical models used to predict economic behaviour were flawed.
Normal economic activity has been slashed in half.
Or rather, people's spoken economic beliefs often conflict with their actual economic behaviour, or with their ultimate interests.
For Mr Friedman, economic behaviour owes as much to "market selection" as it does to express intention.
In addition, there is the "new institutionalism" that links economic behaviour with societal concerns.
A number of writers have explored mass psychology and its consequences for economic behaviour.
Capital flows are supposed to be a reward for good economic behaviour.
Institutions produce order by creating expectations toward which individuals can orient their economic behaviour.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com