European Economics At A Crossroads
J. Barkley Rosser, Jr., Professor of Economics and Kirby L. Cramer, Jr. Professor of Business Administration, James Madison University, US, Richard P.F. Holt, Professor of Economics and University Seminar, Southern Oregon University, US and David Colander, Christian A. Johnson Distinguished Professor of Economics, Middlebury College, US
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As Europe moves toward an integrated academic system, European economics is changing. This book discusses that change, along with the changes that are happening simultaneously within the economics profession. The authors argue that modern economics can no longer usefully be described as ‘neoclassical’, but is much better described as complexity economics. The complexity approach embraces rather than assumes away the complexities of social interaction. The authors also argue that despite all the problems with previous European academic structures, those structures allowed for more diversity than exists in US universities, and thus were often ahead of US universities in exploring new cutting-edge approaches. The authors further argue that by trying to judge themselves by US-centric measures and to copy US universities, the European economics profession is undermining some of the strengths of the older system – strengths on which it should be building. While the authors agree that European economics needs to go through major changes in the coming decade, they argue that by building on Europe’s strengths, rather than trying to follow a US example, Europe will be more likely to become the global leader in economics in the coming decades rather than a second-rate copy of the US.
Contents: Preface Part I: The Future of European Economics 1. European Economics at a Crossroads 2. The Complexity Revolution in Economics Part II: Conversations 3. Alan Kirman 4. Ernst Fehr 5. Cars Hommes 6. Mauro Gallegati and Laura Gardini 7. Tönu Puu 8. Søren Johansen and Katarina Juselius 9. Geoffrey Hodgson 10. Joan Martínez Alier 11. Robert Boyer Part III: Reflections 11. János Kornai 12. Reinhard Selten Bibliography Index