Everyone needs economic theory. Everyone. Except from economists?

TERRA ECONOMICUS, , Vol. 12 (no. 3),
p. 8-14

The article examines how economic theory that had been in fact banished, as the academic discipline, from the university auditoriums, is now reviving as a scientific system; fundamental trends in modern economy in the coordinates of economic theory are described; development of economics is analyzed. The author shows that cognition in humanities is far more complex process than in the natural sciences; the development of economic theory is viewed as the scramble of fundamental paradigms. Problems related to search of modern economic theory search are defined; the author reflects on the reasons why «inferiority complex» emerges among modern economists; in the end, the author concludes that it is better not to have any economic theory at all than to have the bad one.

Keywords: modern economic theory; fundamental trends of the modern economy in the coordinates of the economic theory; development of economic theory; complexity of social knowledge; development of economic thought viewed as the scramble of fundamental paradigms; problems related to modern economic theory search; the causes of economists’ «inferiority complex»

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606