Foundations for New Economic Thinking A Collection of Essays [Hardcover]

New economic thinking is in demand in the light of the recent economic crisis. This book equips the reader with a better understanding of current ways of thinking as well as an awareness of other possibilities, providing the foundations for debate in theory and methodology alongside practical implications for policy.What Kind of New Theory in Light of the Crisis? Schools of Thought in Macroeconomics Animal Spirits and Rationality Beyond Dualism Uncertainty about Uncertainty The Appeal of Mainstream Economics Mainstream Economic Methodology Methodological Pluralism and Pluralism of Method The Non-Neutrality of Formalism Structured Pluralism The Meaning of Open Systems The Issue of Uncertainty in Economics Variety of Methodological Approach in Economics

'For many years Sheila Dow has wisely guided our thinking through her deep discussions of methodology and its implications for teaching, research and policy, and by a wide range of analytical writings, especially on monetary matters and the workings of monetary production economies in general. Her collection of essays could not have come at a more appropriate time. For her guidance is needed more than ever as we rethink and revise our analysis of how our world works, at the moment, very badly, and what may be done about it.' - G. C. Harcourt, Professor Emeritus, University of New South Wales, Australia

'Sheila Dow has been toiling in the fields of economic methodology for a number of decades, and this book gathers the fruits of her efforts. The range of topics covered is impressive, from the non-neutrality of formalism, to how best to handle open systems, pervasive uncertainty, animal spirits, and other problems that economists must face. Throughout the volume, the vital importance of an open attitude to alternative approaches - in a phrase, methodological pluralism - is stressed. It is a fine collection.' - Bruce Caldwell, Professor of Economics, Duke University, USA

'Sheilal!