Sins of the Sons of Samuelson: Vision, pedagogy, and the zig-zag windings of complex dynamics

B-Tier
Journal: Journal of Economic Behavior and Organization
Year: 2010
Volume: 74
Issue: 3
Pages: 277-290

Authors (2)

Colander, David (not in RePEc) Rothschild, Casey (Wellesley College)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

The standard economics text is centered on a vision of a naturally self-regulated, dynamically stable system with a unique global attractor. This paper discusses how we got there and how recent developments in the study of dynamical systems allow us to go beyond that. It traces the evolution of the teaching of economics from Alfred Marshall, who built his supply-and-demand framework within a complexity vision of the economy. It suggests that that complexity vision was lost as economists formalized the supply-demand framework and extended it to the entire economy. This paper argues that the current textbook presentation of economics should not and cannot serve as the only intellectual frame we provide to our students.

Technical Details

RePEc Handle
repec:eee:jeborg:v:74:y:2010:i:3:p:277-290
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25