Do you know what we need before we can have a sound monetary system, a reformed economic curricula, and wealth redistribution instruments?
We need critically sound economic discourse.
How can we transform economics and move it away from its current state of unproductive dogmatic thinking?
One key way would be in reforming the way economics is taught to students around the world.
In a recent post I argued that in the discipline of economics rational debates of ideas have been replaced by dogma, to the detriment of society. A dogma is a set of principles that are laid down by an overarching authority and are seen as incontrovertibly true. That is what economics has become.
Today, economics is taught as a set of assumptions that are considered unquestionably infallible, static, and true. Even after the 2008 financial crisis demonstrated how badly economics could miss obvious oncoming troubles, the field remains mired in the certitude of its own thought processes. The economics curriculum is supposed to create critical thinkers who want to help improve society. Instead it is producing lazy thinkers who believe in a market-based reality that exists only in their minds and their textbooks.l