Thomas, Alex M.
(2017)
On economic theory and method.
The Economic Periodicals (1).
pp. 55-57.
Abstract
Against the backdrop of demands to reduce the
theory cources ad increases the number of 'applied' courses, 2009, I wrote an essay titled on Economic Theory and Economics Policy' The Student Economist, a JNU student publication. I had argued for pluralism in the teaching of economics because the dominant paradigm marginalist
economic theory runs into logical problems and is
incapable of offering useful policy suggestions as far
as the Indian economy is concerned whereas the
heterodox approach drawing from Smith, Ricardo,
Marx, and Keynes offer a better alternative.
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