A remarkable thing is happening in the world of economics. Dissatisfied students from various institutions around the world insist that the dominant economics curriculum must change, as it inadequately reflects, or deals with, our current economic realities. They clearly realise that real change occurs from within.
These students demand changes that not only reflect our post-2008 economic crash world, but further insist that the entire theoretical economics framework and curriculum be fundamentally revised. A deep distrust of the dominant neo-classical economic model has emerged. This has spurred these young economists in training to ask how the subject can become relevant for all, not just the few.
Mainstream economic theory has been under increased scrutiny for quite some time. Alternative economic concepts have been reinforced through the work of more socially oriented economists like Nobel Prize winners Amartya Sen, Elinor Ostrum, Joseph Stiglitz and Paul Krugman. These, amongst others, have led to a marked shift away from the strict current emphasis on neo-classical economics as taught amongst most major educational institutions, towards a more pluralistic perspective.
No comments:
Post a Comment