Introduction

Geoffrey Hodgson (geoff@vivarais.co.uk) and Ernesto Screpanti

Chapter 1 in Rethinking Economics, 1991, pp 1-16 from Edward Elgar Publishing

Abstract: Rethinking Economics is a major contribution to the reconstruction of an economic theory appropriate to the 21st century. Just as major changes are occurring in the world economy, economics itself is on the brink of change. Orthodox economics is now widely criticized for its sterility and its limited applicability to real-world economic problems. Standard theoretical tools such as general equilibrium theory are now regarded, even by their leading practitioners, as highly limited and problematic.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 1991
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