2009 Quote by Steve Keen

Economists got away from really questioning how the world works, how decisions actually got made. If something doesn't conform to neoclassical models ... people…

— W. Brian Arthur

Nothing has done more to render modern economic theory a sterile and irrelevant exercise in autoeroticism than its practitioners’ obsession with mathematical, general-equilibrium models.

— Robert Higgs

We need to abandon the economist's notion of the economy as a machine, with its attendant concept of equilibrium. A more helpful way of…

— Paul Ormerod

“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…

— Steve Keen

“Some people argue that economics is an exception to this general story. Economics, they say, provides a much more analytically precise and tightly integrated…

— Thomas Homer-Dixon

For far too long economists have sought to define themselves in terms of their supposedly scientific methods. In fact, those methods rely on an…

— Thomas Piketty

Existing economics is a theoretical system which floats in the air and which bears little relation to what happens in the real world.

— Ronald Coase

Modern economics is sick. Economics has increasingly become an intellectual game played for its own sake and not for its practical consequences for understanding…

— Mark Blaug

Neoclassical economics ... has uncovered important truths about the nature of money and markets because its fundamental model of rational self-interested human behavior is…

— Francis Fukuyama

“Neoclassical economics is precisely the theory one would expect a vastly complex system of international corporations, world markets, and interconnected currencies to create to…

— Roger M. Keesing

“An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if…

— Steve Keen

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock…

— Joan Robinson