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The Economists of Tomorrow: The Case for Assertive Pluralism in Economics Education

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  • Alan Freeman

Abstract

This article presents the case for “assertive pluralism” in economics education and proposes how to achieve it, illustrating the point with reference to the U.K. Subject Benchmark Statement in Economics (SBSE). It proposes a revision of the benchmark, prioritizing the role of controversy in the teaching of economics, combined with pluralistic principles that uphold and guarantee critical and independent thinking. This reform is a necessary response to what Colander et al. (2009) term the “systemic failure” of economics—the inability of the profession, taken as a whole, to anticipate and understand the financial crash and recession of 2008. Failure on this scale testifies to a more deep‐seated weakness in economics than commonly recognized. It arises from what Turner (Tett 2009) terms the regulatory capture of the economics profession by narrow financial interests. The public, and the economics profession, require specific protection against the pressures that have produced this systemic failure. This requires a rethink of the relation of economics to society, founded on a rejection of the idea that the function of economics is to provide a single, unequivocal solution to every problem of policy. Instead, the article explains, good economics should be constrained to evaluate the full range of relevant solutions to any given policy issue, leaving the decisionmakers accountable for the decisions they make on which solution to adopt.

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  • Alan Freeman, 2010. "The Economists of Tomorrow: The Case for Assertive Pluralism in Economics Education," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(5), pages 1591-1613, November.
    • Handle: RePEc:bla:ajecsc:v:69:y:2010:i:5:p:1591-1613
    DOI: 10.1111/j.1536-7150.2010.00758.x
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    References listed on IDEAS

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    1. Frederic S. Lee, 2007. "The Research Assessment Exercise, the state and the dominance of mainstream economics in British universities," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(2), pages 309-325, March.
    2. Andy Denis, 2013. "Pluralism in economics education," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Teaching Post Keynesian Economics, chapter 5, pages 88-105, Edward Elgar Publishing.
    3. Joshua S. Gans & George B. Shepherd, 1994. "How Are the Mighty Fallen: Rejected Classic Articles by Leading Economists," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 165-179, Winter.
    4. Ann Pettifor, 2006. "The Coming First World Debt Crisis," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-23675-2, September.
    5. Erik S. Reinert (ed.), 2004. "Globalization, Economic Development and Inequality," Books, Edward Elgar Publishing, number 1570.
    6. Freeman, Alan, 2007. "Catechism versus pluralism: the heterodox response to the national undergraduate curriculum proposed by the UK Quality Assurance Authority," MPRA Paper 6832, University Library of Munich, Germany.
    7. Freeman, Alan, 2008. "Submission from the Association for Heterodox Economics to the International Benchmarking Review on Research Assessment," MPRA Paper 52836, University Library of Munich, Germany, revised Dec 2008.
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    1. The Economists of Tomorrow
      by Alessandro Cerboni in Knowledge Team on 2014-09-20 13:11:30

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    Cited by:

    1. William Prieto-Bustos, 2022. "Los programas académicos de economía: análisis comparativo de Europa y Colombia," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 41(74), pages 41-70, July.
    2. repec:zbw:inwedp:552014 is not listed on IDEAS
    3. Freema, Alan, 2015. "Going for the Juglar: Keynes, Schumpeter and the Theoretical Crisis of Economics," MPRA Paper 64809, University Library of Munich, Germany, revised 05 Jun 2015.
    4. Freeman, Alan, 2015. "Heavens above: what equilibrium means for economics. With an appendix on temporality, equilibrium, endogeneity and exogeneity, in the inductive sciences and in economics," MPRA Paper 65045, University Library of Munich, Germany, revised 14 Jun 2015.
    5. Martin Kniepert, 2014. "Die (Neue) Institutionenökonomik als Ansatz für einen erweiterten, offeneren Zugang zur Volkswirtschaftslehre," Working Papers 552014, University of Natural Resources and Life Sciences, Vienna, Department of Economics and Social Sciences, Institute for Sustainable Economic Development.
    6. Freeman, Alan, 2011. "Association for Heterodox Economics Submission to UK Science and Technology Parliamentary Select Committee on peer review," MPRA Paper 64702, University Library of Munich, Germany, revised 10 Mar 2011.

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