Written by John Lounsbury
Econintersect: Tony Lawson, Faculty of Economics, University of Cambridge and head of the Cambridge Social Ontology Group with its fortnightly Cambridge Realist Group, addresses a pressing question – one so widely asked that even Queen Elizabeth II has raised it. This 1915 lecture addresses ‘what is wrong with modern economics?’.
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He addresses the questions:
- Why did economists not see the financial crisis coming?
- Has modern economics lost touch with reality and instead lost itself in fancy mathematic models?
These are questions that have thrown the economic discipline into turmoil and (hopefully) self-reflection.
Source: YouTube
