On current state of economics: Subjective semi-sociological observations

Author:

Kapeliushnikov R. I.1

Affiliation:

1. Primakov National Research Institute of World Economy and International Relations, RAS; Centre for Labour Market Studies, National Research University Higher School of Economics

Abstract

The paper analyses recent sociological and epistemological trends in the evolution of economics as a scientific enterprise and as a social institution and tries to evaluate its current state and further perspectives. It concludes that now there is neither triumph nor crisis in modern economic science. Rather, economics is in an ordinary working state though not very promising since the period of big theoretical ideas seems to be over for it, since new atheoretical tendency in it is becoming stronger, and since it would become more and more interventionistic in the nearest future.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference20 articles.

1. Kapeliushnikov R. (2015). Strategies of behavioral economics. In: A. N. Dmitriev, I. M. Savelieva (eds.). Human sciences. History of disciplines. Moscow: HSE Publ. (In Russian).

2. Kapeliushnikov R. (2017). The status of the rationality principle in economic theory: Past and present. Zhurnal Novoi Ekonomicheskoi Assotsiatsii, No. 2, рр. 162—166. (In Russian).

3. Fourcade M., Ollion E., Algan Y. (2015). The superiority of economists. Voprosy Ekonomiki, No. 7, pp. 45—72. (In Russian).

4. Almond D., Mazumder B. (2011). Health capital and the prenatal environment: The effect of Ramadan observance during pregnancy. American Economic Journal: Applied Economics, Vol. 3, No. 4, рр. 56-85.

5. Angrist J., Pischke J.-S. (2010). The credibility revolution in empirical economics: How better research design is taking the con out of econometrics. Journal of Economic Perspectives, Vol. 24, No. 2, рр. 3-30.

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