It is widely accepted that economics has changed significantly since the 1970s with the development of new data sources, new methods of analysis and the computer. This paper argues that this transformation of the discipline involves more than just a rise of empirical work: it involves a new...

Machine generated contents note: 1. Introduction; Part I. Economics in Action: 2. Creating new markets; 3. Creating a market economy; 4. Globalization and welfare; 5. Money and finance; Part II. Historical Perspectives: 6. Creating a 'scientific' economics; 7. The quest for rigorous macroeconomics;...