The Crisis in Economic Theory: A Review Essay

Kevin Hoover ()

Journal of Economic Literature, 2016, vol. 54, issue 4, 1350-61

Abstract: The Great Recession and the financial crisis of 2007-09 prompted calls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recent books: the sociologist Richard Swedberg's The Art of Social Theory and the economist André Orléan's The Empire of Value: A New Foundation for Economics.

JEL-codes: A11 B40 Z13 (search for similar items in EconPapers)
Date: 2016
Note: DOI: 10.1257/jel.20151338
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