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What’s Wrong with Economics II

In: What’s Wrong with Economics?

Author

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  • Benjamin Ward

Abstract

There has probably never been a time in which neoclassical economics has not been under serious challenge. Today is no exception. But, as in the past, today there are areas of mainline economics that continue to have the power to attract good students and to arouse their enthusiasm and commitment to the development of that area. None is more successful than mathematical economics, where serious mathematics is being both developed and given economic interpretation, for the most part well within the neoclassical framework.1 Another area that is attractive to young economists is political economics, narrowly interpreted as the neoclassical theory of collective choice. And it is still true that applied econometrics and the slightly mysterious way it pulls unexpected results out of masses of data continues to attract new enthusiasts. In all these areas, well-defined puzzles serve as the challenge, and there is little reason to suppose that interest in these puzzles will disappear in the immediate future (especiallysince it seems so unlikely that the puzzles will be solved in a socially useful way).

Suggested Citation

  • Benjamin Ward, 1972. "What’s Wrong with Economics II," Palgrave Macmillan Books, in: What’s Wrong with Economics?, chapter 16, pages 237-246, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-01806-2_16
    DOI: 10.1007/978-1-349-01806-2_16
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    Citations

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    Cited by:

    1. Muhammad Anas Zarqa, 2003. "Islamization of Economics: The Concept and Methodology تحقيق إسلامية علم الاقتصاد: المفهوم والمنهج," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 16(1), pages 3-42, January.
    2. Kakarot-Handtke, Egmont, 2010. "Axiomatic Basics of e-Economics," MPRA Paper 24331, University Library of Munich, Germany.
    3. Charles Wilber, 2004. "Ethics, human behavior and the methodology of social economics," Forum for Social Economics, Springer;The Association for Social Economics, vol. 33(2), pages 19-50, March.
    4. Wicks, Rick, 2011. "Assumption without representation: the unacknowledged abstraction from communities and social goods," MPRA Paper 51674, University Library of Munich, Germany.
    5. M. Akram Khan, 1984. "Islamic Economics: Nature and Need الاقتصاد الإسلامي: الطبيعة والحاجة," Journal of Research in Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 1(2), pages 51-55, July.
    6. T.A. Boylan & P.F. O'Gorman, 2007. "Axiomatization And Formalism In Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 426-446, July.
    7. repec:abd:kauiea:oldjournal:v:1:y:1984:i:2:no:4:p:51-55 is not listed on IDEAS
    8. L.A. Duhs, 2008. "SEN'S ECONOMIC PHILOSOPHY Capabilities and Human Development in the Revival of Economics as a Moral Science," Discussion Papers Series 366, School of Economics, University of Queensland, Australia.

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