Where There Is No Vision, Economists Will Perish

Charles M. A. Clark

Econ Journal Watch, 2014, vol. 11, issue 2, 136-143

Abstract: Mainstream economists are currently under fire because they did not foresee the financial meltdown of 2007. This article suggests that many of the shortcomings of neoclassical economics come from its overly narrow understanding of the human person. Economists could turn to the higher discipline of theology, specifically the Catholic social thought tradition, for a richer and more realistic understanding of the nature of the human person. With a more secure foundation, economists will perhaps be able to develop more relevant theories and policies.

Keywords: Human nature; neoclassical economic theory; Catholic social thought (search for similar items in EconPapers)
JEL-codes: A12 A13 L26 Z12 Z13 (search for similar items in EconPapers)
Date: 2014
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