IDEAS home Printed from https://ideas.repec.org/p/pke/wpaper/pkwp1306.html
   My bibliography  Save this paper

How reflexive have economists been in the wake of the crisis: 'The times they are a -changin'?

Author

Listed:
  • Ioana Negru

Abstract

The current global economic crisis provides a window of opportunity for both reflection and change within economics. This paper examines the response of the discipline to questions surrounding the need for change by surveying commentaries provided by economists (and to some extent economic commentators) within the media and literature of professional economics associations. The paper seeks to address two questions. Firstly, is there recognition that the economic crisis poses serious questions for the discipline of economics – and if so what is the scale and nature of this self-awareness? Secondly, the paper seeks to identify the type of diagnoses being provided by the economics profession in terms of whether the clamor for change relates to focus, theoretical framework, or methodological foundations of the disciplines (or all three). Empirical findings suggest that future effort might be better directed towards economic theory and its assumptions rather than towards method and methodology.

Suggested Citation

  • Ioana Negru, 2013. "How reflexive have economists been in the wake of the crisis: 'The times they are a -changin'?," Working Papers PKWP1306, Post Keynesian Economics Society (PKES).
    • Handle: RePEc:pke:wpaper:pkwp1306
    as

    Download full text from publisher

    File URL: https://www.postkeynesian.net/downloads/working-papers/PKWP1306_3ILSgy3.pdf
    File Function: First version, 2013
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. D. Colander & H. Follmer & A. Haas & M. Goldberg & K. Juselius & A. Kirman & T. Lux & B. Sloth, 2010. "The Financial Crisis and the Systemic Failure of Academic Economics," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
    2. Colander, David, 2003. "The Aging of an Economist," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(2), pages 157-176, June.
    3. Jamie Morgan, 2009. "The limits of central bank policy: economic crisis and the challenge of effective solutions," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 581-608, July.
    4. Axel Leijonhufvud, 2009. "Out of the corridor: Keynes and the crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 741-757, July.
    5. Daniel B. Klein, 1999. "Introduction: What Do Economists Contribute?," Palgrave Macmillan Books, in: Daniel B. Klein (ed.), What do Economists Contribute?, chapter 1, pages 1-26, Palgrave Macmillan.
    6. Thomas I. Palley, 2009. "After the Bust: The Outlook for Macroeconomics and Macroeconomic Policy," Economics Public Policy Brief Archive ppb_97, Levy Economics Institute.
    7. Colander, David & Klamer, Arjo, 1987. "The Making of an Economist," Journal of Economic Perspectives, American Economic Association, vol. 1(2), pages 95-111, Fall.
    8. Tony Lawson, 2009. "The current economic crisis: its nature and the course of academic economics," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 33(4), pages 759-777, July.
    9. David Colander, 1998. "The Sounds of Silence: The Profession's Response to the COGEE Report," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(3), pages 600-607.
    10. Robert E. Lucas Jr., 2003. "Macroeconomic Priorities," American Economic Review, American Economic Association, vol. 93(1), pages 1-14, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Amelia Sharman, 2015. "The impact of controversy on the production of scientific knowledge," GRI Working Papers 207, Grantham Research Institute on Climate Change and the Environment.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Colander, David, 2003. "The Aging of an Economist," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(2), pages 157-176, June.
    2. Arne Heise, 2014. "The Future of Economics in a Lakatos–Bourdieu Framework," International Journal of Political Economy, Taylor & Francis Journals, vol. 43(3), pages 70-93, July.
    3. Wendy A. Stock & Lee W. Hansen, 2004. "Ph. D. Program Learning and Job Demands: How Close Is the Match?," American Economic Review, American Economic Association, vol. 94(2), pages 266-271, May.
    4. David Colander, 2005. "The Making of an Economist Redux," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 175-198, Winter.
    5. Kosta Josifidis & Alpar Lošonc & Novica Supić, 2010. "Neoliberalism: Befall or Respite?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(1), pages 101-117, March.
    6. Colander, David, 2009. "What Was “It” That Robbins Was Defining?," Journal of the History of Economic Thought, Cambridge University Press, vol. 31(4), pages 437-448, December.
    7. Andrew Mearman & Tim Wakeley & Gamila Shoib & Don J. Webber, 2011. "Does Pluralism in Economics Education Make Better Educated, Happier Students? A Qualitative Analysis," International Review of Economic Education, Economics Network, University of Bristol, vol. 10(2), pages 50-62.
    8. Peter J. Boettke & Alexander W. Salter & Daniel J. Smith, 2018. "Money as meta-rule: Buchanan’s constitutional economics as a foundation for monetary stability," Public Choice, Springer, vol. 176(3), pages 529-555, September.
    9. Bordo, Michael & Istrefi, Klodiana, 2023. "Perceived FOMC: The making of hawks, doves and swingers," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 125-143.
    10. David Colander & Jessica Holmes, 2007. "Gender and graduate economics education in the US," Feminist Economics, Taylor & Francis Journals, vol. 13(2), pages 93-116.
    11. Spahn Peter, 2009. "The New Keynesian Microfoundation of Macroeconomics," Review of Economics, De Gruyter, vol. 60(3), pages 181-203, December.
    12. Stolzenburg, Ulrich, 2015. "The agent-based Solow growth model with endogenous business cycles," Economics Working Papers 2015-01, Christian-Albrechts-University of Kiel, Department of Economics.
    13. Mohsen Javdani & Ha-Joon Chang, 2023. "Who said or what said? Estimating ideological bias in views among economists," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 47(2), pages 309-339.
    14. Klaus Mohn, 2010. "Autism in Economics? A Second Opinion," Forum for Social Economics, Springer;The Association for Social Economics, vol. 39(2), pages 191-208, July.
    15. Lourdes Espinoza & Carlos Gustavo Machicado & Katia Makhlouf, 2007. "La Enseñanza de Economía en Bolivia y Chile," Development Research Working Paper Series 10/2007, Institute for Advanced Development Studies.
    16. Don J. Webber & Andrew Mearman, 2012. "Students’ perceptions of economics: identifying demand for further study," Applied Economics, Taylor & Francis Journals, vol. 44(9), pages 1121-1132, March.
    17. David Colander, 2009. "Can European Economics Compete with U.S. Economics? And Should It"," Middlebury College Working Paper Series 0902, Middlebury College, Department of Economics.
    18. Daniel B. Klein & Stewart Dompe, 2007. "Reasons for Supporting the Minimum Wage: Asking Signatories of the "Raise the Minimum Wage" Statement," Econ Journal Watch, Econ Journal Watch, vol. 4(1), pages 125-167, January.
    19. 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.
    20. Zoya Mladenova, 2017. "Reflections of the Global Crisis 2008-2009 upon Economic Theory: Attempt for Generalization," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-40.

    More about this item

    Keywords

    Reflexivity; change in economics; methodology in economics; economic crisis; economists’ practices;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pke:wpaper:pkwp1306. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jo Michell (email available below). General contact details of provider: https://edirc.repec.org/data/pksggea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.