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What's Left of Cambridge Economics?
Although mainstream economics has moved past the market fundamentalism of the 1970s and 1980s, it has yet to establish a new theoretical footing. One reason is that well-meaning reformers in the field continue to embrace the same false premises that they should be seeking to overturn.
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Nicholas Kaldor, Economics without Equilibrium, Routledge, 1985.
AUSTIN – Diane Coyle, an economist and professor of public policy at the University of Cambridge, has set a daunting task for herself: to provide a reasoned critique of the economics discipline from an insider’s perspective, while defending mainstream economics from the harsh – and mounting – criticism leveled by outsiders.