Last night, the London School of Economics hosted a public debate, with Geoffrey Hodgson and Paul Ormerod, on the question, ““What kind of economics should we teach?”
Here is a link to a pdf version of Hodgson’s slide show. His main point:
Students should be trained to question assumptions and adjudicate wisely between competing explanations.
And for that economics education needs to include philosophy, the history of economic thought, and economic history. Otherwise, students are taught a set of neoclassicals principles and formal models as a common sense, as a single representation of the economy.
The debate held at the LSE is happening around the world. Unfortunately, it’s exactly the kind of debate that is going to be eliminated at the University of Notre Dame (for more, see here and here).
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