INET to G20: To Prevent a Crisis, Open Up the Economics Profession

“Ethical Markets welcomes INET getting down to fundamentals in its critique of the economics discipline (a profession, not a science).  Next, we hope they will continue my efforts along with lawyer Peter Nobel (grandson of Alfred Nobel) to expose the Riksbank’s  “Bank of Sweden Prize in Economic Science (sic) in Memory of Alfred Nobel”  which has been confused with a real Nobel Prize, on which Peter Nobel and I have written editorials.  Peter got the Nobel family to dissociate from the Riksbank’s prize. We also aligned with Nassim Taleb, author of  The Black Swan who continued this effort and brought it up to Sweden’s king at his annual garden party.  Time INET took up  this cudgel too!

~Hazel Henderson, Editor“

INET to G20: Break the Stranglehold on Economics

Last week, INET presented a panel and submitted a memo at the G20’s Global Solutions Summit in Berlin, “Research Evaluation in Economic Theory and Policy Making.” Featuring our President Rob Johnson as well as Nobel laureates George Ackerlof and Jim Heckman and INET grantees Carlo d’Ippoliti and Alberto Baccini, the panelists showed academia—and economics in particular—has increasingly placed emphasis on measures of research “quality” that do more to narrow intellectual exploration than they do to produce good scholarship. The stranglehold of orthodoxy on the profession hurts not only research, but ordinary people who are subject to discredited economic policy.

Breaking the Stranglehold of the Orthodoxy in Economics >

The Trouble with Research Evaluation >

The Crisis of Conformity in Economics >

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