Quote of the Day | 1101
Does this mean that we should cease to teach ‘standard’ economic theory to our students? Surely not. If we did so, these students would not be able to follow the current economic debates. As Max Planck has said, “Physics is not about discovering the natural laws that govern the universe, it is what physicists do”. For the moment, standard economics is what economists do. But we owe it to our students to point out difficulties with the structure and assumptions of our theory. Although we are still far from a paradigm shift, in the longer run the paradigm will inevitably change. We would all do well to remember that current economic thought will one day be taught as history of economic thought.
[x]#10437 fan donderdag 1 november 2012 @ 11:11:21
