2009 Quote by Steve Keen
““Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must come to an end. For while the concepts of neoclassical economics appear difficult, they are actually quaint in comparison to the sophistication evident in today's mathematics, engineering, computing, evolutionary biology and physics. In order to advance, economics must humbly submit to learning from disciplines that it has studiously ignored for so long. Some researchers in outside fields have called for the wholesale replacement of standard economics curricula, using at least the building blocks of modern thought inherent in other disciplines.””
About This Quote
Source Speech: Lecture on Economics, 2020
Neoclassical economics is outdated and must integrate modern scientific advances to stay relevant.
In simple terms: Economics needs modern science to improve.
Key Takeaway
Incorporate interdisciplinary insights into economic study.
Themes
economics
interdisciplinary
science
education
Mood
critical
inquisitive
Type
analytical
persuasive
When to use this quote
- university curricula
- policy analysis
- research collaboration
- academic reform
Key Concepts
methodology
knowledge integration
Questions to Reflect On
- How can economists bridge gaps with other fields?
- What barriers exist to interdisciplinary curricula?
A Different Perspective
Resistance from traditionalists may slow change.
