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CONSOLATIONS FOR THE ECONOMIST: THE FUTURE OF ECONOMIC ORTHODOXY 1
Author(s) -
George Donald A.R.
Publication year - 2007
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/j.1467-6419.2007.00508.x
Subject(s) - orthodoxy , rigour , economics , mainstream economics , formalism (music) , mainstream , positive economics , pluralism (philosophy) , subject (documents) , heterodox economics , neoclassical economics , applied economics , economic methodology , schools of economic thought , sociology , epistemology , law and economics , social science , political science , law , philosophy , theology , musical , art , philosophy education , library science , computer science , visual arts
This paper sets the contributions to this volume in the context of widespread and serious doubts expressed by economists about the mainstream of their subject. Orthodox economics is increasingly dominated by sterile formalism, which refers only to itself. But the methodology of orthodox economics is under attack, and many economists are proposing an alternative agenda for the subject. This paper argues that there is a valid future for economics, but to reach it economists will have to abandon sterile formalism, stop invoking notions of ‘rigour’ which they do not understand, adopt pluralism and learn from cognate disciplines instead of trying to colonise them.