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Time Regained?

In: Economics without Time

Author

Listed:
  • Graeme Donald Snooks

    (Institute of Advanced Studies, Australian National University)

Abstract

It is time to return to the major theme of the book. While the technical development of economics over the last few centuries has been impressive, it has been achieved at a considerable cost, the full significance of which is only just emerging. As the gameplayers gained control of the profession’s centre stage, the realists were relegated to the wings. In the process, economic theory effectively lost interest in, and contact with, the real world. Economics also lost interest in the big questions that have been, and again will be, vital to the future of man – namely the great waves of economic change that are transforming human society. Theory tells us virtually nothing about these forces. Consequently the dimension gained by the development of economic theory – logical precision – has been outweighed by the dimension lost – time

Suggested Citation

  • Graeme Donald Snooks, 1993. "Time Regained?," Palgrave Macmillan Books, in: Economics without Time, chapter 8, pages 270-277, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37381-5_9
    DOI: 10.1057/9780230373815_9
    as

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