FINANCIAL TIMES: Universities across four continents are rolling out a revamped economics curriculum, after students protested that conventional academic courses failed to grapple with the problems befalling the global economy.
Since the financial crisis, student groups have attacked economics departments for failing to deal with the world’s most pressing social issues, including inequality and global warming. They have also criticised professors’ reluctance to teach a range of economic theories, with courses instead focusing on neoclassical models which they claim do little to explain the 2008 meltdown.
The protest has won the backing of prominent economists, including Joseph Stiglitz, a Columbia University academic, and Andy Haldane, chief economist at the Bank of England. Its supporters believe that the exposure to a wider range of approaches is necessary if the next generation of policy makers is to avoid the mistakes made in the run-up to the crisis… (more)
EDITOR: The current Keynesian theories didn’t fail us; right wing idealogues simply wouldn’t utilize them so we still are mucking about in a slow economy. We should have applied a second stimulus bill in 2010 to put people back to work rebuilding our nations infrastructure and seizing the opportunities of the 21st centurry.
