Beyond the Neoclassical Paradigm: A Real World Economics Proposal
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Abstract
The paper examines the case against the neoclassical school of thought by the Real World Economics movement with the aim of highlighting their key proposals and policy prescriptions. The paper was able to review the important messages of the Real world Economic Movement, by tracing their ideological origins from the strengths and weaknesses of neoclassical economics which stands for mainstream economics. Arguing for noble changes in the teaching and practice of economics, the paper was able to establish the core argument of the Real World Economist against neoclassical economics; a need for pluralism in the teaching and practice of economics.
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References
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The Kansas City Proposal (2001) “An International Open Letter”, Post – Autistic Economics Newsletter: issue no 8, September, article 1.
Buch-Hansen, H. (2014) “Dimensions of real-world competition – a critical realist perspective”, real-world economics review, issue no. 66, pp. 80-94, http://www.paecon.net/PAEReview/issue66/BuchHansen66.pdf
Camerer, C and Leowenstein, G. (2003) “Behavioural Economics: Past, Present, Future.” In Camerer, Leowenstein and Robin,M., eds., Advances in Behavioural Economics, Princeton: Princeton University Press,2003.
Davis, J. (2007) “Why is Economics Not Yet a Pluralist Science?” Post – Autistic Economics Review, Vol.43: 42 – 51.
Fullbrook, E (2013) “New paradigm economics”, real-world economics review, issue no. 65, pp. 129-131, http://www.paecon.net/PAEReview/issue65/Fullbrook65.pdf
Fullbrook,E. (2012) “To observe or not to observe: Complementary pluralism in physics and economics”, real-world economics review, issue no. 62, pp. 20-28, http://www.paecon.net/PAEReview/issue62/Fullbrook62.pdf
Fullbrook, E. (2001) “Real Science Is Pluralist”, post-autistic economics newsletter: issue no. 5, March, article 5. http://www.btinternet.com/~pae_news/review/issue5.htm
Fullbrook, E. (2004). A Guide to What’s Wrong with Economics, Anthem Press: London.
Fullbrook, E. (2005a) “Post-Autistic Economics”, Soundings, issue 29, pp. 96-109. To be republished as “PAE and the Rand Portcullis” in issue 32 of the post-autistic economics review.
Fullbrook, E. (2005b) “Competitive and Non-Competitive Narratives” http://www.btinternet.com/~pae_news/Fullbrooknarratives.htm
Galbraith, J.K. (2001) “A Contribution on The State of Economics in France and the World”, Post – Austistic Economics Newsletter: issue no.4, January article 1.
Guerrien, B. (2002), “Is There Anything Worth Keeping in Standard Microeconomics”, post-autistic economics review, issue no. 12(1). http://www.btinternet.com/~pae_news/review/issue12.htm
Goldschmidt, N. (2002). Distorted economic relations: A new movement – the post-autistic economists – wants to renew economics. http://www.paecon.net/PAEarticles/Goldschmidt1.htm
Helbing, D. and Kirman,A. (2013) “Rethinking economics using complexity theory”, real-world economics review, issue no. 64, pp. 23-52, http://www.paecon.net/PAEReview/issue64/\HelbingKirman64.pdf
Hemenway, D. (2013) “What I would like economic majors to know”, real-world economics review, issue no. 63, pp. 147-154, http://www.paecon.net/PAEReview/issue63/Hemenway63.pdf).
Heise,A. (2012) “‘When the facts change, I change my mind…’ Some developments in the economic scientific community and the situation in Germany”, real-world economics review, issue no. 62, pp. 83-97, http://www.paecon.net/PAEReview/issue62/Heise62.pdf
Hodgson, G. M. (2001), How Economics Forgot History: The Problem of Historical Specificity in Social Science. New York: Routledge.
Kakarot-Handtke, E. (2013) “Crisis and methodology: some heterodox misunderstandings”, real-world economics review, issue no. 63, pp. 98-117, http://www.paecon.net/PAEReview/issue63/kakarot-handtke63.pdf
Locke,R. (2012) “Reassessing the basis of economics: From Adam Smith to Carl von Clausewitz”, real-world economics review, issue no. 61, pp. 100-114, http://www.paecon.net/PAEReview/issue61/Locke61.pdf
Marqués , G. (2013) “A plea for reorienting philosophical attention from models to applied economics”, real-world economics review, issue no. 65, pp. 30-43, http://www.paecon.net/PAEReview/issue65/Marques65.pdf
Mayhew, A. (2001) “Some Old But Good Ideas”, Post – Autistic Economic Review: issue no 10, December, article 1.
Otsch, W., and Kapeller, J. (2010) “Perpetuating the Failure: Economic Education and the Current Crisis” Journal of Social Science Education, Vol. 9, No. 2, pp. 16-25.
Raveaud, G. (2001) “Teaching Economics Through Controversies”, Post – Autistic Economics Newsletter: issue no 5, March, article 6.
Reardon, J. (2012) “A radical reformation of economics education: educating real world economists”, real-world economics review, issue no. 62, pp. 2-19, http://www.paecon.net/PAEReview/issue62/Reardon62.pdf
The Cambridge 27 (2001) “Opening Up Economics”. Post – Autistic Economics Newsletter: issue no 7, July, article 1.
The Kansas City Proposal (2001) “An International Open Letter”, Post – Autistic Economics Newsletter: issue no 8, September, article 1.