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Ekonomie budoucnosti: čtyři možné scénáře
[The Future of Economics: Four Possible Scenarios]

Author

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  • Lukáš Kovanda

Abstract

Already during the financial crisis from 2007 through 2009, a growing number of scholars, laymen or media outlets blamed economics as such, at least partially, for the turmoil and subsequent economic malaise. Therefore, the debate concerning future long-term development of economics - or, more precisely, prevailing economic theory - has been intensifying. The following text outlines four possible scenarios - synthetic, evolutionary, reactionary, and revolutionary - of such a development. Each scenario is connected with a methodologist of economics or a methodologist of science, who represent it, for it is right the domain of methodology or/and philosophy of science wherein it is necessary to look for an ideological background belonging to different research traditions in economics as well as for an understanding of determining stances and worldviews of the traditions' proponents.

Suggested Citation

  • Lukáš Kovanda, 2011. "Ekonomie budoucnosti: čtyři možné scénáře
    [The Future of Economics: Four Possible Scenarios]
    ," Politická ekonomie, University of Economics, Prague, vol. 2011(6), pages 743-758.
  • Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:6:id:819:p:743-758
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    References listed on IDEAS

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    1. K. Vela Velupillai, 2005. "The unreasonable ineffectiveness of mathematics in economics," Cambridge Journal of Economics, Oxford University Press, pages 849-872.
    2. Richard H. Thaler & Cass R. Sunstein, 2003. "Libertarian Paternalism," American Economic Review, American Economic Association, pages 175-179.
    3. Tony Lawson, 2006. "The nature of heterodox economics," Cambridge Journal of Economics, Oxford University Press, vol. 30(4), pages 483-505, July.
    4. Bezemer, D.J., 2009. "No one saw this coming. Understanding financial crisis through accounting models," Research Report 09002, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    5. Paul A. Samuelson, 1997. "Credo of a Lucky Textbook Author," Journal of Economic Perspectives, American Economic Association, pages 153-160.
    6. Bezemer, Dirk J, 2009. "“No One Saw This Coming”: Understanding Financial Crisis Through Accounting Models," MPRA Paper 15892, University Library of Munich, Germany.
    7. Luigi L. Pasinetti, 2005. "The Cambridge School of Keynesian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 837-848, November.
    8. Hands,D. Wade, 2001. "Reflection without Rules," Cambridge Books, Cambridge University Press, number 9780521797962, November.
    9. repec:dgr:rugsom:09002 is not listed on IDEAS
    10. Cass R. Sunstein & Richard H. Thaler, 2003. "Libertarian paternalism is not an oxymoron," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    11. David Colander, 2005. "The future of economics: the appropriately educated in pursuit of the knowable," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 927-941, November.
    12. Beed, Clive & Beed, Cara, 2000. "The Status of Economics as a Naturalistic Social Science," Cambridge Journal of Economics, Oxford University Press, vol. 24(4), pages 417-435, July.
    13. Daniel J. Benjamin & David I. Laibson, 2003. "Good policies for bad governments: behavioral political economy," Conference Series ; [Proceedings], Federal Reserve Bank of Boston.
    14. Clive Beed, 2005. "Naturalised epistemology and economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(1), pages 99-117, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    methodology of economics; heterodoxy; orthodoxy; mainstream; modernism; postmodernism; future of economics;

    JEL classification:

    • B29 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Other
    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General

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