Others d not share that view. The criticism that has arisen is that of the 100 who signed the letter to the Observer not all were ‘economists’. Some were social scientists, others accountants or in business schools and others, like me have professional and not academic post graduate qualifications.
Those who make such comment utterly miss the point. For a profession that supposedly promotes competition as the cure to all problems economics has been curiously ruthless in eliminating it. It is now almost possible to study anything but mainstream neoliberal economics. It is this economics that has failed us, but if you do not subscribe to it then it is very hard to now get a PhD in economics, let alone a job as an economist at a university. neoliberalism ha squeezed all alternative economic thought out of economics, which is all the poorer for it.
But that, of course is why alternative thinking has had to come from elsewhere.
Here’s a list of economics departments in the UK.
I defy anyone to uncover a department (and just to keep it simple, we’ll limit ourselves to people who actually offer an “economics” degree) which only teaches “neo-liberal” economics.
Warwick, for example, teaches Keynes in macro 101.
Term 1: Economic Growth and Business Cycles. The module begins by introducing the concepts and variables of interest for macroeconomic issues, focusing particularly on the recent experience of economic growth, unemployment, and inflation in the UK and continental Europe. It then moves into the theories and models to which economists have turned to advocate or criticize different policies. We analyze models in both, closed and open economies. We start with the classical long-run theory of determination of economic growth and inflation. The Keynesian approach to aggregate demand with fixed or sticky prices is then introduced with a discussion of the determinants of short-run economic fluctuations.
Term 2: Macroeconomic Policy. Expectations and forward-looking behaviour have important influences on the markets for aggregate output, money, and labour. The module considers how they may stabilise aggregate demand or make it more volatile, along with implications for macroeconomic stabilisation policy. Short-run trade-offs between inflation and unemployment and their implications for monetary policymaking are analyzed. Open economy issues such as fixed versus flexible exchange rates are examined in the context of the Mundell-Fleming model. Macroeconomic stabilisation policy is reviewed in the light of long-run constraints arising from the government’s need to finance deficits by borrowing. The module closes with a discussion of the European Monetary Union.
Mundell-Fleming for example is the Keynesian model with fluctuating exchange rates.
UCL second year macro:
Balance of payments accounts. Exchange rates, competitiveness and the Marshall–Lerner condition. IS/LM analysis in the open economy: the Mundell–Fleming model. Exchange rate expectations, including overshooting. Inflation and unemployment in the open economy. Supply shocks. Policy analysis in the open economy: exchange rate as policy instrument, fiscal policy, supply-side policies. Applications to macroeconomic performance and policy in Europe and to European Monetary Union.
IS/LM….Hick’s interpretation of Keynes.
Southampton, Ricthie’s Alma Mater. Second term macro:
This unit provides an introduction to the major theories explaining the aggregate behaviour of the economy. The salient macroeconomic trends reflected in long term growth and cyclical fluctuations are emphasised. Competing explanations for the empirical patterns of growth, unemployment, and inflation are assessed.
This is a near random choice, starting at the bottom of the list. I’ve included the first three that actually gave some detail of the syllabus.
The only economics taught in the UK is neo-liberal stuff? The man’s spouting complete bollocks, isn’t he?
Absolutely delighted to offer a challenge. Find me a UK university that does not teach Keynes in the undergraduate economics programme.
Man’s mad or ignorant…..or possibly just dissembling.