Macro and financial economics need a quantum leap

Sergio Rossi

International Journal of Pluralism and Economics Education, 2011, vol. 2, issue 3, 306-317

Abstract: This paper highlights a number of flaws within macro and financial economics that originated the 2007-2011 global economic and financial crisis. These flaws are deeply rooted in neoclassical economics, so much so as the lack of pluralism within the economics profession makes it impossible for orthodox economists to understand how research and teaching activities in their discipline have given rise to a whole generation of economists who defined away the most urgent problems of real-world economies and failed to communicate the assumptions and limitations of their models. A quantum leap is required to overcome these flaws.

Keywords: economic theories; finance; macroeconomics; money; banking; banks; financial economics; quantum leaps; global crises; economic crises; financial crises; neoclassical economics; orthodox economists; real-world economies; assumptions; limitations; pluralism; economics education. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=44273 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijplur:v:2:y:2011:i:3:p:306-317

Access Statistics for this article

More articles in International Journal of Pluralism and Economics Education from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().