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w3: Post-crisis economics II /2548

Topic 1

Lecture handouts

w3: The crisis in economics 2 – A brief History of Economic Thought [pdf]

Worth watching:

Ferguson, C (2010), Inside Job – documentary about the 2008 financial crisis which highlights significant ethical issues within economics as a discipline. Has been available on several pay-to-play streaming services and seems to be present on several free services.

Lecture reading

* Boettke, P (1996), What is wrong with neoclassical economics (and what is still wrong with Austrian economics), in Foldvary, F (1996), Beyond neoclassical economics, Cheltenham: Edward Elgar Publishing

Campbell, D (2009), The Post-Autistic Movement, Adbusters – Journal of the Mental Environment, Sept/Oct, #85 v17 no5

Chakrabortty, A (2014), University economics teaching isn’t an education: it’s a £9,000 lobotomy, The Guardian, May 9th

* Deane, K and Van Waeyenberge, E (eds) (2020), Recharting the History of Economic Thought, London: Red Globe Press – see sample chapter  [Also available in full via Library  resource list]

– Dimakou, O (2020), What is the role of mathematics in economics? in Deane, K and Van Waeyenberge, E (eds), pp31-51

The Economist (2021), Economics needs to evolve, The Economist, June 24th

* 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

Hanney, O, Watson, C and Ngidi, B (2020), Economists and Crises, Rethinking Economics

Inman, P (2014), Manchester University move to scrap banking crash module angers students, The Guardian, April 2nd

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

Krugman, P (2009), How Did Economists Get It So Wrong?, New York Times, Sept 6th

Lippert, J (2008), Friedman Would Be Roiled as Chicago Disciples Rue Repudiation,, Dec 23rd

Ormerod, P (2009), Can Economists improve the Human Condition ?, Adbusters – Journal of the Mental Environment, Sept/Oct, #85 v17 no5 (2000), The Strange History of Economics, Post-Autustic Economics Networ

Wikipedia (usual provisos on following up identified sources applies) has a good set of entries on William Jevons, Alfred Marshall, Paul Samuelson, Gary Becker and the Chicago School


Rethinking economics

Exploring economics

Cassidy, J (2009), How markets fail – The logic of economic calamities, London: Penguin books

Chang, Ha-Joon (2010), 23 things they don’t tell you about capitalism, London: Allen Lane

Colander, D et al (2008), The Financial Crisis and the Systemic Failure of Academic Economics, working group on ‘Modeling of Financial Markets’ at the 98th Dahlem Workshop

Davidson, P (2010), Is economics a science? Should economics be rigorous?, Real-world Economics Review, issue no. 59, 12 March, pp. 58-66

Fang, L (2013), The Scholars Who Shill for Wall Street, The Nation, Oct 23rd

Haering, N (2014), George Soros’ INET: an institute to improve the world or a Trojan horse of the financial oligarchy?, RWER, i67 pp90-96

Inman, P and Kingsley, P (2011), Inside Job: how bankers caused the financial crisis, The Guardian, Feb 17th

Keen, S (2011), Debunking economics (2nd ed), Zed Books Ltd

Krugman, P (2012), Economics in the crisis, New York Times, Mar 5th

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

Reinert, ES (2012), Neo-classical economics: A trail of economic destruction since the 1970s, RWER, i60 pp1-17

Reinhart, C and Rogoff, K (2008), This Time is Different: A Panoramic View of Eight Centuries of Financial Crises, NBER Working Paper no. 13882.