IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2011y2011i6id819p743-758.html
   My bibliography  Save this article

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

Author

Listed:
  • 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, Prague University of Economics and Business, vol. 2011(6), pages 743-758.
  • Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:6:id:819:p:743-758
    DOI: 10.18267/j.polek.819
    as

    Download full text from publisher

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.819.html
    Download Restriction: free of charge

    File URL: http://polek.vse.cz/doi/10.18267/j.polek.819.pdf
    Download Restriction: free of charge

    File URL: https://libkey.io/10.18267/j.polek.819?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. K. Vela Velupillai, 2005. "The unreasonable ineffectiveness of mathematics in economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 849-872, November.
    2. Richard H. Thaler & Cass R. Sunstein, 2023. "Libertarian paternalism," Chapters, in: Cass R. Sunstein & Lucia A. Reisch (ed.), Research Handbook on Nudges and Society, chapter 1, pages 10-16, Edward Elgar Publishing.
    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, vol. 11(2), pages 153-160, Spring.
    6. Mark Blaug, 1998. "Disturbing Currents in Modern Economics," Challenge, Taylor & Francis Journals, vol. 41(3), pages 11-34, May.
    7. John Pheby, 1988. "Methodology and Economics," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-19258-8, December.
    8. Sheila C. Dow, 1980. "Methodological Morality in the Cambridge Controversies," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 2(3), pages 368-380, April.
    9. Bezemer, Dirk J, 2009. "“No One Saw This Coming”: Understanding Financial Crisis Through Accounting Models," MPRA Paper 15892, University Library of Munich, Germany.
    10. Luigi L. Pasinetti, 2005. "The Cambridge School of Keynesian Economics," Cambridge Journal of Economics, Oxford University Press, vol. 29(6), pages 837-848, November.
    11. Hands,D. Wade, 2001. "Reflection without Rules," Cambridge Books, Cambridge University Press, number 9780521797962.
    12. repec:dgr:rugsom:09002 is not listed on IDEAS
    13. Cass R. Sunstein & Richard H. Thaler, 2003. "Libertarian paternalism is not an oxymoron," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 48(Jun).
    14. Sheila C. Dow, 1996. "The Methodology of Macroeconomic Thought," Books, Edward Elgar Publishing, number 933.
    15. 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.
    16. 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.
    17. Daniel J. Benjamin & David I. Laibson, 2003. "Good policies for bad governments: behavioral political economy," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 48(Jun).
    18. 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)

    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. Lukáš Kovanda, 2010. "Kritický realismus: ontologická báze postkeynesovské ekonomie [Critical Realism as an Ontological Basis of Post-Keynesianism]," Politická ekonomie, Prague University of Economics and Business, vol. 2010(5), pages 608-622.
    2. Lukáš Kovanda, 2014. "Will the Financial Crisis Become a Milestone in the Development of Methodology of Economics? [Stane se finanční krize milníkem v metodologii ekonomie?]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(4), pages 16-29.
    3. Spash, Clive L., 2012. "Ecological Economics and Philosophy of Science: Ontology, Epistemology, Methodology and Ideology," SRE-Discussion Papers 2012/03, WU Vienna University of Economics and Business.
    4. Alexey A. Upravitelev, 2022. "Bounded Rationality of Decision-Making by Online Microfinance Organizations´ Consumers," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 134-147, August.
    5. Upravitelev, A., 2023. "Neoclassical roots of behavioral economics," Journal of the New Economic Association, New Economic Association, vol. 58(1), pages 110-140.
    6. Spash, Clive L., 2012. "New foundations for ecological economics," Ecological Economics, Elsevier, vol. 77(C), pages 36-47.
    7. Ioana Negru, 2013. "Revisiting the Concept of Schools of Thought in Economics: The Example of the Austrian School," American Journal of Economics and Sociology, Wiley Blackwell, vol. 72(4), pages 983-1008, October.
    8. Joseph E. Stiglitz, 2017. "The overselling of globalization," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 52(3), pages 129-137, July.
    9. Ross Guest, 2010. "Policy Forum: Saving for Retirement: Policy Options to Increase Retirement Saving in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 43(3), pages 293-301, September.
    10. Asen Ivanov, 2021. "Optimal pension plan default policies when employees are biased," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 23(3), pages 583-596, June.
    11. Schnellenbach, Jan, 2012. "Nudges and norms: On the political economy of soft paternalism," European Journal of Political Economy, Elsevier, vol. 28(2), pages 266-277.
    12. Ajla Cosic & Hana Cosic & Sebastian Ille, 2018. "Can nudges affect students' green behaviour? A field experiment," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 2(1), pages 107-111, March.
    13. Till Grüne-Yanoff, 2012. "Old wine in new casks: libertarian paternalism still violates liberal principles," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(4), pages 635-645, April.
    14. Christopher Jeffords, 2014. "Preference-directed regulation when ethical environmental policy choices are formed with limited information," Empirical Economics, Springer, vol. 46(2), pages 573-606, March.
    15. Markus Haavio & Kaisa Kotakorpi, 2012. "Sin Licenses Revisited," CESifo Working Paper Series 4010, CESifo.
    16. Schnellenbach, Jan & Schubert, Christian, 2015. "Behavioral political economy: A survey," European Journal of Political Economy, Elsevier, vol. 40(PB), pages 395-417.
    17. Dohmen, Thomas & Falk, Armin & Huffman, David & Marklein, Felix & Sunde, Uwe, 2009. "Biased probability judgment: Evidence of incidence and relationship to economic outcomes from a representative sample," Journal of Economic Behavior & Organization, Elsevier, vol. 72(3), pages 903-915, December.
    18. Ashton, John K. & Hudson, Robert S., 2008. "Interest rate clustering in UK financial services markets," Journal of Banking & Finance, Elsevier, vol. 32(7), pages 1393-1403, July.
    19. Brown, Zachary & Johnstone, Nick & Haščič, Ivan & Vong, Laura & Barascud, Francis, 2013. "Testing the effect of defaults on the thermostat settings of OECD employees," Energy Economics, Elsevier, vol. 39(C), pages 128-134.
    20. Joshua Henkel & Georg Schwesinger, 2020. "Establishing Sustainable Consumption - How Future Policies Can Channel Consumer Preferences," Bremen Papers on Economics & Innovation 2007, University of Bremen, Faculty of Business Studies and Economics.

    More about this item

    Keywords

    methodology of economics; heterodoxy; orthodoxy; mainstream; modernism; postmodernism; future of economics;
    All these keywords.

    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

    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:prg:jnlpol:v:2011:y:2011:i:6:id:819:p:743-758. 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: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.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.