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Review on the Study of Macroeconomics for Its Sustainability into the Digital Economy and Real World: Heterodox Insights

In: Global Investment Decisions in the Circular Economy

Author

Listed:
  • Antonio Sánchez-Bayón

    (Universidad Rey Juan Carlos)

  • César Bernal Bravo

    (Universidad Rey Juan Carlos)

  • Pedro Mellado Moreno

    (Universidad Rey Juan Carlos)

Abstract

The study of macroeconomics according to the neoclassical synthesis (NS) is in crisis for internal and external reasons. Internal weaknesses based in the formal reductionism and instrumentalism (i.e., F-twist, mathiness). External weaknesses caused by the lack of adaptation to social reality changes (i.e., digitalization and globalization 2.0, polycrisis). In order to make sustainable the study of macroeconomics, it should be open to heterodox mainstream approaches, such as Austrian economics and neoinstitutional economics, accustomed to the principle of reality and uncertainty, as well as to dynamic processes and entrepreneurship. This work offers a review of biases, with proposals of digital alphabetization to improve the study of macroeconomics and thus get students to revalue it and rediscover its usefulness in the face of the looming fifth industrial revolution.

Suggested Citation

  • Antonio Sánchez-Bayón & César Bernal Bravo & Pedro Mellado Moreno, 2025. "Review on the Study of Macroeconomics for Its Sustainability into the Digital Economy and Real World: Heterodox Insights," Contributions to Economics, in: Serhat Yüksel & Hasan Dinçer & Muhammet Deveci (ed.), Global Investment Decisions in the Circular Economy, chapter 0, pages 215-227, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-86236-6_16
    DOI: 10.1007/978-3-031-86236-6_16
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