Why the dominance of economics will survive the crash, for now

by Mark Goodwin

The global financial crisis has resulted in much soul-searching for economists. The discipline has been challenged to revisit its most fundamental principles and practices in the light of the crash. As a result, increasing pressure is being put on economics to modify its teaching curricula and research priorities. Yet in the field of policy advice, it is less clear that the dominance of pre-crash economics is being reconsidered. Developments in rival disciplines in the behavioural and neurological sciences may present a greater threat to the continued dominance of economics than any inherent failings.

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