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Die Krise der Wirtschaft: Auch eine Krise der Wirtschaftswissenschaften?

  • Gebhard Kirchgässner


Is the economic and financial crisis also a crisis of Economics? From different perspectives, today there is rather harsh criticism of Economics as a Social Science. In this paper, first, some of the recent failures of Economics are discussed. Then some of the criticisms are taken up that are less convincing, in particular criticisms of the application of the economic model of behaviour, the mathematisation of Economics and the principle of value freedom. The appropriate role of the government as well as of competition is discussed, and also which other consequences should be drawn for Economics as a science but also for economic policy. Finally, we debate whether there is, besides the economic crisis, really as crisis of Economics as well.

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Paper provided by Department of Economics, University of St. Gallen in its series University of St. Gallen Department of Economics working paper series 2009 with number 2009-18.

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Length: 32 pages
Date of creation: Aug 2009
Date of revision:
Handle: RePEc:usg:dp2009:2009-18
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