ABSTRACT
As the current economic crisis continues and seemingly deepens it is not unusual to find groups of academic economists being attributed a share of the blame. A significant amount of this emanates from other academic economists. Before indicating why the emphasis on mathematical modelling in modern economics is problematic, let me first observe that in economic journals the formalistic modelling activities seem currently to be continuing unabated. Heterodox economists qua heterodox economists, of course, differentiate themselves from the mainstream in not insisting that mathematical methods be everywhere employed pluralism is a chacteristic feature of this heterodoxy. Economic historians and post-Keynesians are indicating and lamenting the decline of Keynesian teaching in universities over the last 30 years so policy-oriented economists are seeking to revert to policies described as Keynesian. Perhaps viewing the assumption of isolation as obviously irrelevant, Keynes instead points to the need for a 'comprehensive' list of the required 'atomic factors'.
