minimalism in economics

Minimalism in economics refers to the idea of simplifying economic models and policies by focusing only on the most essential factors that influence economic outcomes. It involves stripping away complex details to better understand core relationships, making analysis clearer and more manageable. This approach helps policymakers and economists identify fundamental principles without unnecessary complications, aiming for practical solutions that are easier to implement and interpret. Essentially, minimalism seeks efficiency and clarity by emphasizing what truly matters in economic decision-making and analysis.