So much for pluralism …15 May, 2016 at 19:05 | Posted in Economics | 1 Comment
It comes as no surprise to me—but it probably does to everyone outside of economics—that a senior lecturer at the University of Glasgow, Alberto Paloni, an expert in post-Keynesian theory, has been stopped from teaching a core degree module on macroeconomics.
This, after an essay in the Royal Economic Society newsletter specifically cited Paloni’s course as introducing a necessary pluralism into the teaching of economics …
All Paloni did was teach students some Post Keynesian macroeconomics. Post Keynesian theory, for those who are unfamiliar with the term, focuses on elements of the economic approach inspired by John Maynard Keynes (such as time, radical uncertainty, financial fragility, and so on) that are often domesticated by or simply removed from modern mainstream macroeconomics. Nothing too radical, then—just one among many alternatives to the theory that prevails in economics and, as we now know, the set of approaches and policies got us into the current mess.