Undergraduates at Manchester University propose overhaul of orthodox teachings to embrace alternative theories
Phillip Inman, economics correspondent
The Guardian, Thursday 24 October 2013
Few mainstream economists predicted the global financial crash of
2008 and academics have been accused of acting as cheerleaders for the
often labyrinthine financial models behind the crisis. Now a growing
band of university students are plotting a quiet revolution against
orthodox free-market teaching, arguing that alternative ways of thinking
have been pushed to the margins.
Economics undergraduates at the University of Manchester have formed the Post-Crash Economics Society,
which they hope will be copied by universities across the country. The
organisers criticise university courses for doing little to explain why
economists failed to warn about the global financial crisis and for
having too heavy a focus on training students for City jobs.
A
growing number of top economists, such as Ha-Joon Chang, who teaches
economics at Cambridge University, are backing the students.
Next
month the society plans to publish a manifesto proposing sweeping
reforms to the University of Manchester's curriculum, with the hope that
other institutions will follow suit.
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