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Economics as a discipline is currently in disarray. In the aftermath of the global financial crisis, academic experts, students, commentators, practitioners and politicians all questioned the status of academic economics and many called for a 'new economic thinking'. Nearly a decade later,...
Persistent link: https://www.econbiz.de/10011799756
. Nevertheless, there is neither a consensus over the form of pluralism that is required (whether this is a theory, method, or … paradigm pluralism, for example), nor agreement among economists over the underlying diagnosis of a lack of pluralism. Even the …
Persistent link: https://www.econbiz.de/10011479975
As a social science, economics studies social interactions. What distinguishes it from other social science disciplines is, firstly, its focus on interactions involving the management of scarce resources and, secondly, its conception of itself as generating traceable, verifiable findings that...
Persistent link: https://www.econbiz.de/10012135052
Pluralism in economics appears to be a double-edged sword: we need more than one theory to grasp and explain the entire … 'objective knowledge' in the singular of the 'one world one truth' conception. Therefore, pluralism is often equated with … relativism and obscurantism. In this article, I will explore both the demand for pluralism and the fear of relativism and …
Persistent link: https://www.econbiz.de/10012251920
community of economists embraces paradigmatic pluralism as part of their academic culture, or if regulations are put in place to …
Persistent link: https://www.econbiz.de/10013342167
In the context of ongoing criticisms of the lack of pluralism in economics, the present article aims to discuss the …. The history of heterodoxy in Germany thus presents itself as an unequal 'battle of the paradigms', and can only be told as …
Persistent link: https://www.econbiz.de/10010516681
Germany is an unequal 'battle of the paradigms', and can only be told as the story of a failure. …
Persistent link: https://www.econbiz.de/10011543048
Walras' law is central to the formation of economic theory. For mainstream economics, it is a device for testing rigorousness and consistency of model-building; for heterodox economists, the refutation of Walras' law is key to understanding Keynes' revolutionary contribution to a new economic...
Persistent link: https://www.econbiz.de/10011515286
There has long been a discussion about the employment impact of minimum wages and this discussion has recently been renewed with the introduction of an economy-wide, binding minimum wage in Germany in 2015. In traditional reasoning, based on the allocational approach of modern labour market...
Persistent link: https://www.econbiz.de/10011704311
In diesem Beitrag geht es darum, den Postkeynesianismus als paradigmatische Alternative zum herrschenden neoklassischen Mainstream etwas näher kennenzulernen. Es zeigt sich sehr schnell, dass der Postkeynesianismus keine einheitliche Denkschule darstellt, sondern vielmehr eine Vielzahl von...
Persistent link: https://www.econbiz.de/10011898389