What’s Wrong with American Principles of Economics – According to Mainstream Economists?

11 Pages Posted: 18 Jul 2011

See all articles by Poul Thois Madsen

Poul Thois Madsen

Danish School of Media and Journalism

Date Written: July 5, 2011

Abstract

Heterodox economists have ‘always’ criticized mainstream economic textbooks, but what about criticisms put forward by mainstream economists? A limited but lively and rather overlooked mainstream debate is identified in this essay, in which the general message is that there is a critical gap between textbooks and the real world. The criticisms aired in this debate almost seem to be forgotten, although most of them are still highly relevant and, if taken seriously, might lead to significant changes of economics textbooks.

Keywords: Economic textbooks, mainstream self-criticism

JEL Classification: A22, B40

Suggested Citation

Madsen, Poul Thois, What’s Wrong with American Principles of Economics – According to Mainstream Economists? (July 5, 2011). Available at SSRN: https://ssrn.com/abstract=1887830 or http://dx.doi.org/10.2139/ssrn.1887830

Poul Thois Madsen (Contact Author)

Danish School of Media and Journalism ( email )

Oluf Palmes Allé 11
Aarhus N, DK-8200
Denmark
+45 2912 7836 (Phone)

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