Undergraduates at Manchester University propose overhaul of orthodox teachings to embrace alternative theories

Real-World Economics Review Blog

from today’s Guardian

Economics students aim to tear up free-market syllabus

Post-Crash Economics Society
The Post-Crash Economics Society at Manchester University. Photograph: Jon Super for the Guardian

Few mainstream economists predicted the global financial crash of 2008 and academics have been accused of acting as cheerleaders for the often labyrinthine financial models behind the crisis. Now a growing band of university students are plotting a quiet revolution against orthodox free-market teaching, arguing that alternative ways of thinking have been pushed to the margins.

Economics undergraduates at the University of Manchester have formed the Post-Crash Economics Society, which they hope will be copied by universities across the country. The organisers criticise university courses for doing little to explain why economists failed to warn about the global financial crisis and for having too heavy a focus on training students for City jobs.

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