Post-autistic economics
Encyclopedia
The movement for Post-Autistic Economics (PAE) was born through the work of Sorbonne
economist
Bernard Guerrien
. The movement is best seen as a forum of different groups critical of the current mainstream: from behavioral and heterodox
to feminist
, green economics and econo-physics
. Started in 2000 by a group of disaffected French economics students, Post-Autistic Economics first reached a wider audience in June 2000 after an interview in Le Monde
.
It was supported by the Cambridge
Ph.D. students in 2001 with the publication of "Opening Up Economics: A Proposal By Cambridge Students", later signed by 797 economists.
The term autistic is used in an informal way, signifying "abnormal subjectivity, acceptance of fantasy rather than reality". It has been criticized for using the medical diagnosis, autism
, as a derogatory expression.
assumptions and incorporated ideas from sociology
and psychology
into economic analysis. Specifically, the notions of utility theory, rational choice
, production and efficiency theory (Pareto optimality), and game theory
have been criticised.
Other topics include "Gross National Happiness
", realism vs. mathematical consistency, "Thermodynamics
and Economics", or "Irrelevance and Ideology". Contributors include Bruce Caldwell, James K. Galbraith
, Robert L. Heilbroner
, Bernard Guerrien
, Emmanuelle Benicourt, Ha-Joon Chang
, Herman Daly
and Richard D. Wolff
.
, in a long article in Le Monde
, followed by another by Olivier Blanchard
, the chair at MIT, as well as the publication of a counter-petition to the French students’ petition, a plea for the status quo - argue that a characterization of academic economics taught in today's colleges as autistic in the sense of closed-minded is unfair, since many branches of post-modern economics reject classical economic world-views and heavy reliance on mathematics.
In addition, the term "autistic" is a medical description of a developmental disorder in children, and thus its use to characterize mainstream economics is considered by many to be highly insensitive and indicative of a lack of empathy and understanding on the part of self-described post-autistic economists for those who live with actual autism .
In March, 2008, the post-autistic economics review changed its name to the real-world economics review.
University of Paris I: Panthéon-Sorbonne
Pantheon-Sorbonne University or Paris 1 is a university in Paris, France. With eight hundred years of excellence to build on, the University of Paris 1 Panthéon-Sorbonne, a descendant of the Sorbonne and the Faculty of Law and Economics of Paris, is one of the largest universities in France today...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
Bernard Guerrien
Bernard Guerrien
Bernard Guerrien is a French economist and the author of La Théorie des jeux , Dictionnaire d'analyse économique , and La théorie économique néoclassique...
. The movement is best seen as a forum of different groups critical of the current mainstream: from behavioral and heterodox
Heterodox economics
"Heterodox economics" refers to approaches or to schools of economic thought that are considered outside of "mainstream economics". Mainstream economists sometimes assert that it has little or no influence on the vast majority of academic economists in the English speaking world. "Mainstream...
to feminist
Feminist economics
Feminist economics broadly refers to a developing branch of economics that applies feminist lenses to economics. Research under this heading is often interdisciplinary or heterodox...
, green economics and econo-physics
Econophysics
Econophysics is an interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics...
. Started in 2000 by a group of disaffected French economics students, Post-Autistic Economics first reached a wider audience in June 2000 after an interview in Le Monde
Le Monde
Le Monde is a French daily evening newspaper owned by La Vie-Le Monde Group and edited in Paris. It is one of two French newspapers of record, and has generally been well respected since its first edition under founder Hubert Beuve-Méry on 19 December 1944...
.
It was supported by the Cambridge
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
Ph.D. students in 2001 with the publication of "Opening Up Economics: A Proposal By Cambridge Students", later signed by 797 economists.
The term autistic is used in an informal way, signifying "abnormal subjectivity, acceptance of fantasy rather than reality". It has been criticized for using the medical diagnosis, autism
Autism
Autism is a disorder of neural development characterized by impaired social interaction and communication, and by restricted and repetitive behavior. These signs all begin before a child is three years old. Autism affects information processing in the brain by altering how nerve cells and their...
, as a derogatory expression.
Concept
PAE has challenged standard neoclassicalNeoclassical economics
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often mediated through a hypothesized maximization of utility by income-constrained individuals and of profits...
assumptions and incorporated ideas from sociology
Sociology
Sociology is the study of society. It is a social science—a term with which it is sometimes synonymous—which uses various methods of empirical investigation and critical analysis to develop a body of knowledge about human social activity...
and psychology
Psychology
Psychology is the study of the mind and behavior. Its immediate goal is to understand individuals and groups by both establishing general principles and researching specific cases. For many, the ultimate goal of psychology is to benefit society...
into economic analysis. Specifically, the notions of utility theory, rational choice
Rational choice theory
Rational choice theory, also known as choice theory or rational action theory, is a framework for understanding and often formally modeling social and economic behavior. It is the main theoretical paradigm in the currently-dominant school of microeconomics...
, production and efficiency theory (Pareto optimality), and game theory
Game theory
Game theory is a mathematical method for analyzing calculated circumstances, such as in games, where a person’s success is based upon the choices of others...
have been criticised.
Other topics include "Gross National Happiness
Gross national happiness
The assessment of gross national happiness was designed in an attempt to define an indicator that measures quality of life or social progress in more holistic and psychological terms than only the economic indicator of gross domestic product .-Origins and meaning:The term...
", realism vs. mathematical consistency, "Thermodynamics
Thermodynamics
Thermodynamics is a physical science that studies the effects on material bodies, and on radiation in regions of space, of transfer of heat and of work done on or by the bodies or radiation...
and Economics", or "Irrelevance and Ideology". Contributors include Bruce Caldwell, James K. Galbraith
James K. Galbraith
James Kenneth Galbraith is an American economist who writes frequently for mainstream and liberal publications on economic topics. He is currently a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin. He is also a Senior...
, Robert L. Heilbroner
Robert Heilbroner
Robert L. Heilbroner was an American economist and historian of economic thought. The author of some twenty books, Heilbroner was best known for The Worldly Philosophers , a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard...
, Bernard Guerrien
Bernard Guerrien
Bernard Guerrien is a French economist and the author of La Théorie des jeux , Dictionnaire d'analyse économique , and La théorie économique néoclassique...
, Emmanuelle Benicourt, Ha-Joon Chang
Ha-Joon Chang
Ha-Joon Chang is one of the leading heterodox economists and institutional economists specialising in development economics...
, Herman Daly
Herman Daly
Herman Daly is an American ecological economist and professor at the School of Public Policy of University of Maryland, College Park in the United States....
and Richard D. Wolff
Richard D. Wolff
Richard D. Wolff is an American economist, well-known for his work on Marxian economics, economic methodology, and class analysis.- Early and personal life :...
.
Criticism of the Term
Some mainstream economists - such as Robert SolowRobert Solow
Robert Merton Solow is an American economist particularly known for his work on the theory of economic growth that culminated in the exogenous growth model named after him...
, in a long article in Le Monde
Le Monde
Le Monde is a French daily evening newspaper owned by La Vie-Le Monde Group and edited in Paris. It is one of two French newspapers of record, and has generally been well respected since its first edition under founder Hubert Beuve-Méry on 19 December 1944...
, followed by another by Olivier Blanchard
Olivier Blanchard
Olivier Jean Blanchard is currently the chief economist at the International Monetary Fund, a post he has held since September 1, 2008. He is also the Class of 1941 Professor of Economics at MIT, though he is currently on leave. Blanchard is one of the most cited economists in the world, according...
, the chair at MIT, as well as the publication of a counter-petition to the French students’ petition, a plea for the status quo - argue that a characterization of academic economics taught in today's colleges as autistic in the sense of closed-minded is unfair, since many branches of post-modern economics reject classical economic world-views and heavy reliance on mathematics.
In addition, the term "autistic" is a medical description of a developmental disorder in children, and thus its use to characterize mainstream economics is considered by many to be highly insensitive and indicative of a lack of empathy and understanding on the part of self-described post-autistic economists for those who live with actual autism .
In March, 2008, the post-autistic economics review changed its name to the real-world economics review.
See also
- Criticisms of neoclassical economicsCriticisms of neoclassical economicsNeo-classical economics has come under critique on the basis of its core ideologies, assumptions and other matters.-Normative bias:Neoclassical economics is sometimes criticized for having a normative bias. In this view, it does not focus on explaining actual economies but instead on describing a...
- Flyvbjerg Debate
- History of economics
- Perestroika Movement (political science)Perestroika Movement (political science)The Perestroika Movement in political science is a faction that works towards methodological pluralism and to heighten relevance of political science to people outside the discipline. The movement is against what it sees as dominance for quantitative and mathematical methodology in political science...
- Phronetic social sciencePhronetic social sciencePhronetic social science is an approach to the study of social – including political and economic – phenomena based on a contemporary interpretation of the Aristotelian concept phronesis, variously translated as practical judgment, common sense, or prudence. Phronesis is the intellectual virtue...
- Pluralism in economicsPluralism in economicsThe pluralism in economics movement is a campaign to eliminate monism in economics. The movement's adherents have stated that substantive and methodological monism currently dominates mainstream economics....
- Post-Keynesian economicsPost-Keynesian economicsPost Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor and Paul Davidson...
- Real-world economics reviewReal-world economics reviewThe real-world economics review is a journal of heterodox economics, published by the post-autistic economics network since 2000, and formerly known as the post-autistic economics review...
Literature
- ALCORN, Stanley and SOLARZ, Ben. The Autistic Economist, Yale Economic Review
- Real World Economics: A Post-Autistic Economics Reader, ed. by Edward Fullbrook, Anthem Press, 2007, ISBN 1-84331-236-0
- Mark Blaug. "Ugly Currents in Modern Economics", Policy Options, September 1997. Available as PDF.
- Peter Monaghan. "Taking on Rational Man: Dissident economists fight for a niche in the discipline", Chronicle of Higher Education, January 24, 2003.
- Richard Smith, "Eco-suicidal Economics of Adam Smith," Capitalism Nature Socialism, Volume 18 Number 2 (June 2007): 22-43. PDF at http://dx.doi.org/10.1080/10455750701366386
- Fred Foldvary (ed). Beyond Neoclassical Economics: Heterodox Approaches to Economic Theory, Edward Elgar Publishing, Aldershot, U.K., 1996.
External links
- Official site of the PAE organisation and newsletter
- The Post-Autistic Economic Review, a scholarly journal published by the movement
- AIRLEAP
- New Economics Foundation
- The People-Centered Development Forum
- Article Taking On 'Rational Man' - Dissident economists fight for a niche in the discipline
- Magazine and newsletter of post-autistic Spanish students
- Website of the french students movement for a reform of the teaching in economics
- Article 'Kick it Over! – The Rise of Post-Autistic Economics' in Adbusters magazine, 2004 Sept.