Title: Pluralism and the history of economic thought

Authors: Victor A. Beker

Addresses: University of Belgrano, Zabala 1837, Buenos Aires, Argentina; University of Buenos Aires, Cordoba 2122, Buenos Aires, Argentina

Abstract: While in most social sciences there is a plurality of ideas, the abnormal situation in economics is that it is dominated by one research program, which considers itself the only one to be regarded as scientific in spite of its recurrent failures. If mainstream economics is the true economic theory, teaching the history of economics thought is just a waste of time. As a consequence, the teaching of the history of economic thought has been displaced in most economics departments. This paper argues that the importance of teaching the history of economic thought is because many of the ideas of former great thinkers in economics look far more valid today than most of the abstract models developed in mainstream economics. The paper makes a brief revision of the evolution of economic ideas along time.

Keywords: pluralism; history of economic thought; real-world phenomena; Keynesian revolution.

DOI: 10.1504/IJPEE.2023.136072

International Journal of Pluralism and Economics Education, 2023 Vol.14 No.2, pp.135 - 145

Received: 31 Aug 2022
Accepted: 26 Jul 2023
Published online: 15 Jan 2024 *

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