Economics students around the world have been venting frustration with the orthodox curriculum in the wake of the 2008 world economic crisis. As readers of this blog will be aware, I have considerable sympathy with their plight.
However, there has been a wealth of proposals for how to reform economics and finance in recent years, much of which has only muddied the waters and deepened the despair of both the general public and economics students alike.
At the invitation of the Pluralism in Economics group at University College Maastricht, I gave a lecture last evening that argued that understanding only two simple principles takes us a long way to understanding the complex social reality we live in.
These principles are
- It takes two to tangle (tango);
- What goes around comes around.
I’m making a revised version of my slides available for a general, non-technical audience: download here. Enjoy.
And don’t forget to attend Paul de Grauwe’s Joan Muysken Lecture on “Is the Eurocrisis over?” this coming Monday, April 20, in Maastricht!