Becoming An Economist 2018-19 Lecture 01: Paradigms and Anomalies
Steve Keen
September 26, 2018
Steve Keen's Debt Watch
Summary:
This is the first of ten lectures for the Kingston University Economics Undergraduate course Becoming an Economist (EC4001). It starts with the fact that economists disagree with each other because they follow different “paradigms” about what economics is. I compare the state of economics today to the state of astronomy half a millenium ago, when ...
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This is the first of ten lectures for the Kingston University Economics Undergraduate course Becoming an Economist (EC4001).
It starts with the fact that economists disagree with each other because they follow different “paradigms” about what economics is.
I compare the state of economics today to the state of astronomy half a millenium ago, when the empirically accurate but completely wrong Ptolemaic Earth-centric model of the Universe was challenged by the initially less empirically accurate, but structurally correct Copernican Sun-centric model of the Solar System.
I then outline the at least eight different competing paradigms in economics, each of which starts from a quite legitimate question about the nature of the economy. |
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2018-09-26
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