If you're interested in economics education, and the type of economics we teach on a daily basis, have a listen to this debate at the LSE on different types of economics, the profession's obsession with mathematics, and where some of the profession's leading lights have gone astray. The discussion after the individual presentations is excellent.

From the LSE:

The recent global crisis has lead to questions being asked about whether the kind of economics being taught to students in leading economics departments was responsible for the widespread failure to predict the timing and magnitude of the events that unfolded in 2008. Critiques range from an absence of historical context in mainstream teaching of economics to excessive reliance on mathematical models. This panel brings together four leading economists to debate this issue and to discuss what changes in the economics curriculum and the way that it is delivered are desirable.

Have a listen.

LSE Debate

2 Responses to “What kind of economics should we teach?”

1. Mossy Heneberry

   04/02/2010 at 5:58 pm

   Maybe we should allow the free market to work and stop allowing the government interfere with the economy/free market?

2. Stephen

   05/02/2010 at 2:02 pm

   Would that we could Mossy--problem is, many elements of our capitalist system are too big to fail, or have spliced themselves so carefully into the apparatus of the State that to injure them would be to imperil the nation itself-so we need to look for other solutions. It saddens me greatly that simple failure, or a buy out/debt equity swop type solution is politically and economically untenable because of this closeness.