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A Methodological Agenda for New Economic Thinking

In: Economic Theories, Protagonists and Facts

Author

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  • Maria Cristina Marcuzzo

    (Sapienza University of Rome)

Abstract

In this paper I look into the suggestions made to set up the agenda for the development of alternative paradigms, concentrating mainly on the views emerging from the Institute for New Economic Thinking, which held its inaugural Conference at King’s College in Cambridge in April 2010 on the theme The Economic Crisis and the Crisis in Economics and the second in Bretton Woods on the theme Crisis and Renewal: International Political Economy at the Crossroads. These events brought together economists of various orientations, skills and persuasion, all disillusioned (to varying degrees) with the present. state of economics and committed to promoting change in the way economics is practised in research and teaching. Here I look into a few of the proposals made there with a view to assessing their contributions in addressing “the failure of ideas” issue and setting up the agenda for new economic thinking. I examine the main lessons to be drawn from the work of Keynes and Sraffa, which seem to me an essential part of the criticism of mainstream economics Finally, I raise some issues against the existing career models and system of evaluation of research in economics.

Suggested Citation

  • Maria Cristina Marcuzzo, 2024. "A Methodological Agenda for New Economic Thinking," Palgrave Studies in the History of Economic Thought, in: Economic Theories, Protagonists and Facts, chapter 0, pages 41-57, Palgrave Macmillan.
    • Handle: RePEc:pal:pshchp:978-3-031-63949-4_4
    DOI: 10.1007/978-3-031-63949-4_4
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    More about this item

    Keywords

    New economic thinking; Failure of economic theory; Alternative theories; Keynes; SRAFFA;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General

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