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Macro and financial economics need a quantum leap

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  • Sergio Rossi

Abstract

This paper highlights a number of flaws within macro and financial economics that originated the 2007-2011 global economic and financial crisis. These flaws are deeply rooted in neoclassical economics, so much so as the lack of pluralism within the economics profession makes it impossible for orthodox economists to understand how research and teaching activities in their discipline have given rise to a whole generation of economists who defined away the most urgent problems of real-world economies and failed to communicate the assumptions and limitations of their models. A quantum leap is required to overcome these flaws.

Suggested Citation

  • Sergio Rossi, 2011. "Macro and financial economics need a quantum leap," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 2(3), pages 306-317.
    • Handle: RePEc:ids:ijplur:v:2:y:2011:i:3:p:306-317
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