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The Changing Face of Mainstream Economics

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  • David Colander
  • Ric Holt
  • Barkley Rosser

Abstract

This article argues that economics is currently undergoing a fundamental shift in its method, away from neoclassical economics and into something new. Although that something new has not been fully developed, it is beginning to take form and is centered on dynamics, recursive methods and complexity theory. The foundation of this change is coming from economists who are doing cutting edge work and influencing mainstream economics. These economists are defining and laying the theoretical groundwork for the fundamental shift that is occurring in the economics profession.
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Suggested Citation

  • David Colander & Ric Holt & Barkley Rosser, 2003. "The Changing Face of Mainstream Economics," Middlebury College Working Paper Series 0327, Middlebury College, Department of Economics.
  • Handle: RePEc:mdl:mdlpap:0327
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    File URL: http://www.middlebury.edu/services/econ/repec/mdl/ancoec/0327.pdf
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    References listed on IDEAS

    as
    1. Aspromourgos, Tony, 1986. "On the Origins of the Term 'Neoclassical.'," Cambridge Journal of Economics, Oxford University Press, vol. 10(3), pages 265-270, September.
    2. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521772839.
    3. Veblen, Thorstein, 1899. "The Preconceptions of Economic Science I," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 13.
    4. Mirowski,Philip, 2002. "Machine Dreams," Cambridge Books, Cambridge University Press, number 9780521775267.
    5. Colander, David, 2003. "The Aging of an Economist," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(2), pages 157-176, June.
    6. repec:exe:wpaper:98/10 is not listed on IDEAS
    7. Veblen, Thorstein, 1899. "The Preconceptions of Economic Science II," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 13.
    8. Debreu, Gerard, 1991. "The Mathematization of Economic Theory," American Economic Review, American Economic Association, vol. 81(1), pages 1-7, March.
    9. Tesfatsion, Leigh & Judd, Kenneth L., 2006. "Handbook of Computational Economics, Vol. 2: Agent-Based Computational Economics," Staff General Research Papers Archive 10368, Iowa State University, Department of Economics.
    10. David Colander, 2018. "The Death Of Neoclassical Economics," Chapters, in: How Economics Should Be Done, chapter 5, pages 46-62, Edward Elgar Publishing.
    11. J. Barkley Rosser Jr. (ed.), 2004. "Complexity in Economics," Books, Edward Elgar Publishing, volume 0, number 2709.
    12. Leigh Tesfatsion, 2002. "Agent-Based Computational Economics," Computational Economics 0203001, University Library of Munich, Germany, revised 15 Aug 2002.
    13. Smith, Vernon L, 1985. "Experimental Economics: Reply," American Economic Review, American Economic Association, vol. 75(1), pages 264-272, March.
    14. Stodder James, 1995. "The Evolution of Complexity in Primitive Exchange: Theory," Journal of Comparative Economics, Elsevier, vol. 20(1), pages 1-31, February.
    15. J. Barkley Rosser, 1999. "On the Complexities of Complex Economic Dynamics," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 169-192, Fall.
    16. Veblen, Thorstein, 1900. "The Preconceptions of Economic Science III," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 14.
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