Back in April I noted the birth of what is known as Post Crash Economics. You can read this previous post but basically there is a concern that modern economics, in the way it is taught, is too narrow and shuts out alternative perspectives. As stated in the initial Report that was initiated at the University of Manchester:
This lack of competing thought stifles innovation, damages creativity and suppresses the constructive criticisms that are so vital for economic understanding and advancement. There is also a distinct lack of real-world application of economic ideas, with the focus being on abstract modelling that often seems devoid from reality. Finally, the study of ethics, politics and history are almost completely absent from the syllabus. We propose that economics cannot be properly understood with all these aspects excluded.
Well I agree with all of that, but with me it was Pre-Crash Economics as…
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