ABSTRACT

I welcome very much the debate initiated by the PAE community about how economics is taught and to what extent mathematics is appropriate to the discipline. I sympathize with many of the aims. Overall, I stand very firmly by the criticisms which I made of conventional economics in the Death of Economics (Faber and Faber) in 1994. Economics needs a awful lot of special assumptions to apply before it is able to give a good description of how the world operates.