Engineers do engineering, i.e. they build bridges. So engineering needs engineers. The economy does NOT need economists. Economists do not make economy, but they try it and that is why we have so much problems...

We should look closely on what is happening at the moment, guys with little moustaches can pop up everywhere now given this instable economic situation. A look into history shows us what that could mean.

Have you heard the joke about the chemist, physicist and economist who get wrecked on a desert isle, with a huge supply of canned baked beans as their only food? The chemist says that he...

Economics also has to become a fundamentally monetary discipline—from the consideration of how individuals make market decisions through to our understanding of macroeconomics. The myth of “the money illusion” (which can only be true in...

From this failure to expunge the microeconomic foundations of neoclassical economics from post-Great Depression theory arose the “microfoundations of macroeconomics” debate, which ultimately led to a model in which the economy is viewed as a...

The fallacy that dynamic processes must be modeled as if the system is in continuous equilibrium is probably the most important reason for the intellectual failure of neoclassical economics. Mathematics, science and engineering developed tools...

Neoclassical economics has effectively insulated itself from the great advances made in science and engineering over the last 40 years. This self-imposed isolation must come to an end. For while the concepts of neoclassical economics...

An essential pedagogic step here is to relegate the teaching of mathematical methods in economics to mathematics departments. Any mathematical training in economics, if it occurs at all, should come after students have at the...

…If you look at mainstream economics there are three things you will not find in a mainstream economic model – Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out...