Economics in the Post-Socialist Century

James M. Buchanan

Economic Journal, 1991, vol. 101, issue 404, pages 15-21

Abstract: Economics in the century ahead will be marked by a reduction in ideological tension, which will, in turn, generate increased convergence of the attitudes of economists on normative issues. This convergence will increase the influence of economists on policy. There will also occur a retrospective examination of the analytical mind-set that led economists to accept uncritically the socialist model. This examination may generate major methodological shifts. Copyright 1991 by Royal Economic Society.

Date: 1991
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