Die Krise der Wirtschaft: Auch eine Krise der Wirtschaftswissenschaften?

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 article, 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 a crisis of Economics as well. Copyright 2009 die Autoren Journal compilation 2009, Verein für Socialpolitik und Blackwell Publishing Ltd.