Article
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Economics Zombies in Transition: Navigating a Paradigm Shift from Tradition to Modernity
Version 1
: Received: 19 June 2024 / Approved: 19 June 2024 / Online: 20 June 2024 (00:14:38 CEST)
How to cite: Montgomery, R. M. Economics Zombies in Transition: Navigating a Paradigm Shift from Tradition to Modernity. Preprints 2024, 2024061379. https://doi.org/10.20944/preprints202406.1379.v1 Montgomery, R. M. Economics Zombies in Transition: Navigating a Paradigm Shift from Tradition to Modernity. Preprints 2024, 2024061379. https://doi.org/10.20944/preprints202406.1379.v1
Abstract
This article explores the pressing need for a paradigm shift in economics, challenging the dominance of classical economic theories and models that have long held sway. We delve into the limitations of traditional economic paradigms, which often rely on unrealistic assumptions and fail to capture the complexities of human behavior and the modern global economy. Drawing from insights in behavioral economics, environmental economics, and complexity theory, we argue for a more nuanced and multidisciplinary approach to economic analysis. Our discussion addresses the challenges of breaking away from deeply entrenched academic norms and the resistance to change within the economics profession. We highlight strategies for individuals and groups to advocate for the incorporation of modern economic theories in education and research. By fostering interdisciplinary collaboration, encouraging critical thinking, and engaging with policymakers and the public, we aim to catalyze a shift toward economics that is better equipped to address the intricate challenges of the 21st century. This article serves as a call to action for economists and educators alike to embrace a more dynamic and responsive approach to understanding human behavior and decision-making in the modern world.
Keywords
Keywords: Traditional Economics Paradigms, Empiric Approach, Abstraction.
Subject
Social Sciences, Other
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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