Re: : RE: Lies, damned lies, and economics

[Eugene Coyle <eugenecoyle@xxxxxxx>]

Jim,

    Two rejoinders. You say "If given a choice..."  Aren't you given a choice?  If not, what does that say?

    And you say, to slice out one sentence,
 

> That doesn't work in teaching, so I
>        simply use a cleaned-up version of the neoclassical models, with a minimum
>        emphasis on the imaginary perfect competition model.

That's  my point.  I argue that using a "cleaned up version of the neoclassical models" is a profound mistake.  You are just on the treadmill that way.

    And how are you (me, us) going to get an alternative theory if we keep honoring neoclassical models?

Worse, the students will learn that stuff and the better ones will quit economics while the worse will get tenure at Stanford and Harvard.

Gene
 

"Devine, James" wrote:

Eugene writes:
>     I think your answer points up how serious the problem is.
>  Sounds like you (me, everybody) don't have a framework.
>
>     I draw the inference from your post -- apologies if this
> is incorrect -- that you are saying, "Well, you don't have a framework to
> start with, so we should start with the neo-classical framework and point
out
> the problems."

No. I was just wondering. In my experience, only an alternative theory can
beat a theory.

If given a choice, I would start with a Marxian (not a neoclassical) theory,
trying to make it as concrete as possible, as with the old Bowles & Edwards
UNDERSTANDING CAPITALISM textbook. That doesn't work in teaching, so I
simply use a cleaned-up version of the neoclassical models, with a minimum
emphasis on the imaginary perfect competition model. I am looking forward to
using the Microeconomics In Context book as soon as it is available...

>     ... Let a thousand parables bloom.  We will be off the
> treadmill and on an actual path going somewhere.

right: we need lots of parables --- or rather paradigms. But we need to have
a clear alternative to the hegemonic one (orthodox or neoclassical
economics). We can't just describe the world. We might start with an
alternative to the Heyne list of the "economic way of thinking" (opportunity
cost, etc.) as being the key things that students should keep in mind all
through the semester or year.
JD