Mark D. White
As announced in issue 58 of the real world economic review (December 2011), the World Economics Assocation is hosting an online conference titled "Economics in Society: The Ethical Dimension" at this location.
There have been many comments made, both within and outside the profession, about the role of economics in the recent worldwide crisis. These comments have, by and large, focused on the content of the subject, on alternative theories, on the over emphasis on formalization, and on the recent trajectory of economic thought in general. Many non-economists have also focused on the performative nature of contemporary economics in relation to issues such as the role of finance; the impact on development and on distribution within and across countries.
In general these comments amount to a criticism of the excessive narrowing of economics in terms of methodology,; content and theoretical paradigm used; as well as criticism of its persistence in a naïve view of human behavior, and of its apparent ideological bias.
Thus far the profession has responded in two ways: by raising the volume within its longstanding theoretical conflicts; and by engaging in a wide-ranging conversation about the ethical questions that the crisis has raised.
See the conference site for complete details.