Economics Prof: Econ Departments Way Too Orthodox
|June 13, 2014||Posted by Staff under Editorials|
This 2014 excerpt of the Financial Times, May 23, is by Dr Hugh Goodacre, University of Westminster and University College London, UK.
The current debates over the teaching of economics demonstrate how far university departments have fallen behind their own students in their response to the requirements of the times, just as they have been falling behind the economic and financial press and other opinion formers.
Departments aim to justify to first-year students that their further curriculum will centre overwhelmingly on mathematical models.
To suggest that the orthodox approach is amenable is not the same thing as “rethinking economics”, which is what is being called for by students and others. Indeed, giving the impression of change but not actually providing any change will hold back other attempts at breaking the orthodox stranglehold over the curriculum.
Ed. Notes: Economists are too conformists to think outside the box and come up with any good ideas for making the economy serve us instead of us serve the economy. That task is left to true scientists. As astrology gave rise to astronomy and alchemy did chemistry, some day economics must give way to geonomics, the discipline that puts the immutable laws of nature first.