Skip to content

w3: Case 1 – Post-crisis economics /2548

>> Download and complete the worksheet.

  • Read the article below and answer the questions on the worksheet.

Primary reading

Javdani, M and Chang, H (2019), Ideology is Dead! Long Live Ideology!, Institute for New Economic Thinking blog, Aug 12th

see also their appendix with analysis and discussion of methods.

Discussion questions

  1. Why might ideological bias be seen as a concern within economics?
  2. Identify the causal factors that Javdani and Chang suggest are at the root of ideological biases.
  3. Pick two of the five core findings from the article and explain the finding and its significance.
  4. How can the economics discipline address issues of ideological bias in the future?

Some recent articles

Dutt, D (2020), It’s time to unlock the gates of the economics profession, Open Democracy, Oct 23rd

Elliott, L (2020), Minority ethnic economists under-represented at top UK universities, The Guardian, Oct 26th

Background reading

Chang, Ha-Joon (2014), Economics is too important to leave to the experts, The Guardian, April 30th

* Chang, Ha-Joon and Aldred, J (2014), After the crash, we need a revolution in the way we teach economics, The Observer, May 11th

Coyle, D (2012b), Do economic crises reflect crises in economics?, keynote address, ‘Rethinking Economics’ conference, Frankfurt, Jan 23rd [pdf]

The Guardian (2014), Editorial – Economics: a discipline ripe for disruption, The Guardian, April 3rd

The Economist (2014), Piketty fever: Bigger than Marx, The Economist, May 3rd

The Economist (2015), Teaching economics: The demand side, The Economist, Feb 7th

* Krugman, P (2009), How did economists get it so wrong ?, New York Times, Sept 6th

Haldane, A (2017), From economic crisis to crisis in economics, OECD Insights, January 11th

* Hodgson, G (2011), Reforming Economics after the Financial Crisis, Global Policy, v2 i2, May, pp190-195

Hodgson, G (2013), On the complexity of economic reality and the history of the use of mathematics in economics, Filosofia de la Economía, v1 n1, pp125-148

* Luyendijk, Joris (2015), Don’t let the Nobel prize fool you. Economics is not a science, The Guardian, Oct 11th

Mason, Paul (2016), It’s time to junk the flawed economic models that make the world a dangerous place, The Guardian, Sept 19th

Orell, D (2011), Truth and beauty, World Finance, Dec 21st

Poole, S (2017), The Death of Homo Economicus review – why does capitalism still exist?, The Guardian, Sept 28th

** Reed, H (2018), Rip it up and start again: the case for a new economicsProspect, April 13th

Strether, L (2014), Joan Robinson’s “Introduction to Modern Economics”, naked capitalism [blog], April 15th

Reflective commentary question

How should economics, as an academic profession, address the causal factors identified by Javdani and Chang?