IDEAS home Printed from https://ideas.repec.org/a/aea/jecper/v14y2000i1p121-132.html

New Millennium Economics: How Did It Get This Way, and What Way Is It?

Author

Listed:
  • David Colander

Abstract

This paper is a discussion of the changes in the economics profession that occurred (or at least are suggested will occur) between 2000 and 2050. Structural changes include the growth of virtual universities, the movement of the center of economics out of the U.S. and the shrinking of traditional graduate economics programs as we know them today, and their replacement by public policy and specialty programs. Changes in content include an increase in simulation work, experimental work, and the replacement of a neoclassical vision with a New Millennium vision based on a complexity foundation in which patterns develop spontaneously.

Suggested Citation

  • David Colander, 2000. "New Millennium Economics: How Did It Get This Way, and What Way Is It?," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 121-132, Winter.
    • Handle: RePEc:aea:jecper:v:14:y:2000:i:1:p:121-132
    Note: DOI: 10.1257/jep.14.1.121
    as

    Download full text from publisher

    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.14.1.121
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Thomas Mayer, 2001. "Data mining: a reconsideration," Journal of Economic Methodology, Taylor & Francis Journals, vol. 7(2), pages 183-194.
    2. Deirdre N. McCloskey & Stephen T. Ziliak, 1996. "The Standard Error of Regressions," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 97-114, March.
    3. David Colander (ed.), 2000. "The Complexity Vision and the Teaching of Economics," Books, Edward Elgar Publishing, number 1955, August.
    4. Dewald, William G & Thursby, Jerry G & Anderson, Richard G, 1986. "Replication in Empirical Economics: The Journal of Money, Credit and Banking Project," American Economic Review, American Economic Association, vol. 76(4), pages 587-603, September.
    5. David Colander, 2009. "Complexity and the History of Economic Thought," Chapters, in: J. Barkley Rosser Jr. (ed.), Handbook of Research on Complexity, chapter 16, Edward Elgar Publishing.
    6. David Colander, 2018. "The Death Of Neoclassical Economics," Chapters, in: How Economics Should Be Done, chapter 5, pages 46-62, Edward Elgar Publishing.
    7. Leamer, Edward E, 1983. "Let's Take the Con Out of Econometrics," American Economic Review, American Economic Association, vol. 73(1), pages 31-43, March.
    8. Herman C. Quirmbach, 1993. "R&D: Competition, Risk, and Performance," RAND Journal of Economics, The RAND Corporation, vol. 24(2), pages 157-197, Summer.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gérard Charreaux, 2008. "La recherche en finance d’entreprise:quel positionnement méthodologique ?," Revue Finance Contrôle Stratégie, revues.org, vol. 11(Special), pages 237-290, June.
    2. Syrquin, Moshe, 2010. "Kuznets and Pasinetti on the study of structural transformation: Never the Twain shall meet?," Structural Change and Economic Dynamics, Elsevier, vol. 21(4), pages 248-257, November.
    3. repec:ejw:journl:v:1:y:2004:i:2:p:331-358 is not listed on IDEAS
    4. Javier G�mez Pineda, 2008. "El crecimiento econ�mico y la supervivencia: el caso de las matem�ticas y la econom�a"," Borradores de Economia 4579, Banco de la Republica.
    5. David Colander, 2004. "What We Teach and What We Do," Middlebury College Working Paper Series 0426, Middlebury College, Department of Economics.
    6. Sheila C. Dow, 2012. "Variety of Methodological Approach in Economics," Palgrave Macmillan Books, in: Foundations for New Economic Thinking, chapter 13, pages 210-230, Palgrave Macmillan.
    7. Happe, Kathrin & Balmann, Alfons, 2008. "Doing Policy In The Lab! Options For The Future Use Of Model-Based Policy Analysis For Complex Decision-Making," 107th Seminar, January 30-February 1, 2008, Sevilla, Spain 6588, European Association of Agricultural Economists.
    8. Ziliak, Stephen T. & McCloskey, Deirdre N., 2004. "Size matters: the standard error of regressions in the American Economic Review," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 33(5), pages 527-546, November.
    9. Godwin Chukwudum Nwaobi, 2002. "The Economics Profession in the 21st. Century: Theory Practice and Prospects," Brazilian Electronic Journal of Economics, Department of Economics, Universidade Federal de Pernambuco, vol. 5(1), May.
    10. Sandye Gloria-Palermo, 2013. "In Search of the Right Tool: From Formalism to Constructivist Modelling," GREDEG Working Papers 2013-33, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    11. Dilip Nachane, 2017. "Dynamic Stochastic General Equilibrium (DSGE) Modelling :Theory And Practice," Working Papers id:11699, eSocialSciences.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Colander, David C., 2009. "Economists, incentives, judgment, and the European CVAR approach to macroeconometrics," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 3, pages 1-21.
    2. Colander, David C., 2008. "Economists, Incentives, Judgment, and Empirical Work," Economics Discussion Papers 2008-12, Kiel Institute for the World Economy (IfW Kiel).
    3. David Card, 2022. "Design-Based Research in Empirical Microeconomics," American Economic Review, American Economic Association, vol. 112(6), pages 1773-1781, June.
    4. Gunter, Ulrich & Önder, Irem & Smeral, Egon, 2019. "Scientific value of econometric tourism demand studies," Annals of Tourism Research, Elsevier, vol. 78(C), pages 1-1.
    5. Hristos Doucouliagos & Martin Paldam, 2009. "The Aid Effectiveness Literature: The Sad Results Of 40 Years Of Research," Journal of Economic Surveys, Wiley Blackwell, vol. 23(3), pages 433-461, July.
    6. Richard A. Ashley & Christopher F. Parmeter, 2020. "Sensitivity Analysis of an OLS Multiple Regression Inference with Respect to Possible Linear Endogeneity in the Explanatory Variables, for Both Modest and for Extremely Large Samples," Econometrics, MDPI, vol. 8(1), pages 1-24, March.
    7. Nalan Basturk & Cem Cakmakli & S. Pinar Ceyhan & Herman K. van Dijk, 2014. "On the Rise of Bayesian Econometrics after Cowles Foundation Monographs 10, 14," Tinbergen Institute Discussion Papers 14-085/III, Tinbergen Institute, revised 04 Sep 2014.
    8. Bruns, Stephan B. & König, Johannes & Stern, David I., 2019. "Replication and robustness analysis of ‘energy and economic growth in the USA: A multivariate approach’," Energy Economics, Elsevier, vol. 82(C), pages 100-113.
    9. Thomas M Fullerton Jr & Arturo Elias, 2004. "Short-Term Water Consumption Dynamics in El Paso, Texas," Others 0410005, University Library of Munich, Germany.
    10. William Milberg, 1999. "The Rhetoric of Policy Relevance in International Economics," Macroeconomics 9904009, University Library of Munich, Germany.
    11. Kumaraswamy Velupillai, 2003. "Economics and the complexity vision: chimerical partners or elysian adventurers," Department of Economics Working Papers 0307, Department of Economics, University of Trento, Italia.
    12. Hou, Kewei & Xue, Chen & Zhang, Lu, 2017. "Replicating Anomalies," Working Paper Series 2017-10, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
    13. Brorsen, B. Wade, 2017. "2016 WAEA Presidential Address: Comments on Agricultural Economics Research," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 42(01), pages 1-9, January.
    14. Thomas Fullerton & Roberto Tinajero & Martha Barraza de Anda, 2006. "Short-Term Water Consumption Patterns in Ciudad Juárez, Mexico," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(4), pages 467-479, December.
    15. Thomas M Fullerton Jr, 2005. "Borderplex Bridge and Air Econometric Forecast Accuracy," Urban/Regional 0501005, University Library of Munich, Germany.
    16. Ada MARINESCU, 2016. "Axiomatical examination of the neoclassical economic model. Logical assessment of the assumptions of neoclassical economic model," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(607), S), pages 47-64, Summer.
    17. David Colander, 2003. "Complexity, Muddling Through, and Sustainable Forest Management," Middlebury College Working Paper Series 0320, Middlebury College, Department of Economics.
    18. Johnson, Samuel G. B., 2019. "Toward a cognitive science of markets: Economic agents as sense-makers," Economics Discussion Papers 2019-10, Kiel Institute for the World Economy (IfW Kiel).
    19. Duvendack, Maren & Palmer-Jones, Richard, 2011. "The microfinance of reproduction and the reproduction of microfinance: understanding the connections between microfinance, empowerment, contraception and fertility in Bangladesh in the 1990s," MPRA Paper 32384, University Library of Munich, Germany.
    20. Paldam, Martin, 2018. "A model of the representative economist, as researcher and policy advisor," European Journal of Political Economy, Elsevier, vol. 54(C), pages 5-15.

    More about this item

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aea:jecper:v:14:y:2000:i:1:p:121-132. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael P. Albert (email available below). General contact details of provider: https://edirc.repec.org/data/aeaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.