In 2008, the financial crisis rocked the global economy. Most mainstream economists were blindsided … and yet here we are six years later, still grinding away at the same rhetoric of perfection and optimization in classrooms everywhere … there was no shattering of the orthodoxy, no widespread professional awakening.
In the real world, there are no perfect markets; but in neoclassical economics, reality figures in only as an inconvenient afterthought. If we truly want economics to evolve to address the global crises of capitalism, we have to step up and make it happen. It’s time to kick over the orthodox shibboleths and build up a radically pluralist economics for the 21st Century.