Abstract
Steve Keen has written an important book that should spark the interest of economists and others interested in pressing economic problems. It contains six chapters. The introductory chapter is entitled ‘Why this manifesto?’ It argues that economics is in a bad state and that a Kuhnian paradigm shift is required to overcome the limitations of the neoclassical approach. Although the necessary changes have been long resisted, such a paradigm change is now deemed possible because of (i) ‘the development of … computer software that can easily handle large-scale dynamic and even evolutionary processes’ (p. 14), (ii) the development of post-Keynesian, and other non-neoclassical theory in recent decades, particularly the ‘modern monetary theory’ of Warren Mosler, Randall Wray, Stephanie Kelton, and others, and (iii) the upsurge of protest by economics students and others against the alleged failure of their teachers to explain the Great Crash of 2008 or to take it seriously as a problem for mainstream economics.
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