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Consolations For The Economist: The Future Of Economic Orthodoxy

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  • Donald A.R. George

Abstract

This paper sets the contributions to this volume in the context of widespread and serious doubts expressed by economists about the mainstream of their subject. Orthodox economics is increasingly dominated by sterile formalism, which refers only to itself. But the methodology of orthodox economics is under attack, and many economists are proposing an alternative agenda for the subject. This paper argues that there is a valid future for economics, but to reach it economists will have to abandon sterile formalism, stop invoking notions of ‘rigour’ which they do not understand, adopt pluralism and learn from cognate disciplines instead of trying to colonise them.

Suggested Citation

  • Donald A.R. George, 2007. "Consolations For The Economist: The Future Of Economic Orthodoxy," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 417-425, July.
    • Handle: RePEc:bla:jecsur:v:21:y:2007:i:3:p:417-425
    DOI: 10.1111/j.1467-6419.2007.00508.x
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    References listed on IDEAS

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    1. Andrew J. Oswald, 2007. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision‐Makers," Economica, London School of Economics and Political Science, vol. 74(293), pages 21-31, February.
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    Cited by:

    1. Michele Di Maio, 2013. "Are Mainstream and Heterodox Economists Different? An Empirical Analysis," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(5), pages 1315-1348, November.

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