On the stranglehold of neoclassical economics on the Nobel

Ritchie says we should look at this.

So we do.

And the example given of how neoclassical economics has a stranglehold on the Nobel is Gunnar Myrdal.

Since our societies claim to be democracies, the exclusion of competing perspectives at university departments of economics means that such departments take a stand for some ideological orientations in society and against others and indeed acquire a role as political propaganda centers.

One of the economists who at an early stage took an interest in value issues in research and education is Gunnar Myrdal. He argued that “values are always with us” in social science research; in the problems we choose to study, in the choice of conceptual and theoretical frame of reference; in the choice of method and in the choice of ways of presenting results.

You cannot choose without referring to some values. It can be added that Myrdal left the neoclassical camp to become an institutional economist.

That\’s the Gunnar Myrdal who won the Nobel in Economics in 1974 along with Hayek.

Genius, eh?

2 thoughts on “On the stranglehold of neoclassical economics on the Nobel”

  1. Actually, the only “economist” who can claim, with no fear of contradiction, to be value-free is Ritchie himself. Many a day I’ve read his posts and noted just how free of value they really are.

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