Complexity and the culture of economics: a sociological and inter-disciplinary analysis

This paper offers a sociological explanation for why the field of economics has so severely restricted the scope of its analysis to the point where it failed to foresee the financial crises, economic recessions, and other large shifts in economic activity that have characterized the global economy i...

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Autor principal:	Hendrik Van den Berg
Formato:	article
Lenguaje:	DE EN FR
Publicado:	Editura ASE Bucuresti 2012
Materias:	Culture Neoclassical economics Orthodoxy Pluralism Sociology Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/6056038123a14c0ebf99db6279c5a6a9
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spelling	oai:doaj.org-article:6056038123a14c0ebf99db6279c5a6a92021-12-02T01:11:43ZComplexity and the culture of economics: a sociological and inter-disciplinary analysis1843-22981844-8208https://doaj.org/article/6056038123a14c0ebf99db6279c5a6a92012-05-01T00:00:00Zhttp://www.jpe.ro/poze/articole/70.pdfhttps://doaj.org/toc/1843-2298https://doaj.org/toc/1844-8208This paper offers a sociological explanation for why the field of economics has so severely restricted the scope of its analysis to the point where it failed to foresee the financial crises, economic recessions, and other large shifts in economic activity that have characterized the global economy in recent decades. This paper’s analysis of the culture of economics draws heavily on the work of Pierre Bourdieu, the French sociologist who developed a useful framework with which to analyze the culture of an intellectual field like economics. Specifically, the paper describes how the neo-liberal doxa supports the restrictive neoclassical (marginalist) modeling approach that is a central element of the habitus of mainstream economics. Bourdieu’s concept of symbolic violence shows how the orthodox economics culture perpetuates itself even in the face of the complete failure of the culture’s favored neoclassical and rational expectations models to anticipate recent macroeconomic crises. The paper concludes with some thoughts on how this understanding of the culture of economics can enable economists to free themselves from the oppressive culture of mainstream economics.Hendrik Van den BergEditura ASE BucurestiarticleCultureNeoclassical economicsOrthodoxyPluralismSociologyEconomics as a scienceHB71-74DEENFRJournal of Philosophical Economics, Vol V, Iss 2, Pp 38-63 (2012)
institution	DOAJ
collection	DOAJ
language	DE EN FR
topic	Culture Neoclassical economics Orthodoxy Pluralism Sociology Economics as a science HB71-74
spellingShingle	Culture Neoclassical economics Orthodoxy Pluralism Sociology Economics as a science HB71-74 Hendrik Van den Berg Complexity and the culture of economics: a sociological and inter-disciplinary analysis
description	This paper offers a sociological explanation for why the field of economics has so severely restricted the scope of its analysis to the point where it failed to foresee the financial crises, economic recessions, and other large shifts in economic activity that have characterized the global economy in recent decades. This paper’s analysis of the culture of economics draws heavily on the work of Pierre Bourdieu, the French sociologist who developed a useful framework with which to analyze the culture of an intellectual field like economics. Specifically, the paper describes how the neo-liberal doxa supports the restrictive neoclassical (marginalist) modeling approach that is a central element of the habitus of mainstream economics. Bourdieu’s concept of symbolic violence shows how the orthodox economics culture perpetuates itself even in the face of the complete failure of the culture’s favored neoclassical and rational expectations models to anticipate recent macroeconomic crises. The paper concludes with some thoughts on how this understanding of the culture of economics can enable economists to free themselves from the oppressive culture of mainstream economics.
format	article
author	Hendrik Van den Berg
author_facet	Hendrik Van den Berg
author_sort	Hendrik Van den Berg
title	Complexity and the culture of economics: a sociological and inter-disciplinary analysis
title_short	Complexity and the culture of economics: a sociological and inter-disciplinary analysis
title_full	Complexity and the culture of economics: a sociological and inter-disciplinary analysis
title_fullStr	Complexity and the culture of economics: a sociological and inter-disciplinary analysis
title_full_unstemmed	Complexity and the culture of economics: a sociological and inter-disciplinary analysis
title_sort	complexity and the culture of economics: a sociological and inter-disciplinary analysis
publisher	Editura ASE Bucuresti
publishDate	2012
url	https://doaj.org/article/6056038123a14c0ebf99db6279c5a6a9
work_keys_str_mv	AT hendrikvandenberg complexityandthecultureofeconomicsasociologicalandinterdisciplinaryanalysis
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Complexity and the culture of economics: a sociological and inter-disciplinary analysis

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