Why we are doing this
10 Years after the Crash revealed the limitations in economics, there has been minimal change…
The Institute for New Economic thinking have dubbed this a ‘Crisis of Conformity’ based on their research. As a result students around the world leave economics programs with a belief that there is only one way of thinking about economics. This group think pervades policy, politics and the media and stifles policy reform.
….as the neo-classical monopoly prevents such change
Most economists lack awareness of or competency in any school of thought outside neo-classical economics. These economists control top economics departments and effectively define economics. They are unlikely to change anytime soon.
Outside mainstream economics departments, pluralist programs are developing but lack a common identity or ‘brand’….
There is a wide range of innovative teaching in economics that recognises different approaches to thinking about economics – see here more on what this might mean. This teaching is often outside even economics departments in a range of other disciplines and interdisciplinary centres – see here. Hence they lack a common identity.
…while there is a growing demand for new thinking in the context of the political, economic and environmental crises we face
As well as the student movement, there are also a range of high-profile actors in policy, finance and business, who recognize that new thinking is required to address the current crises – see our supporters so far here and become one too.