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New economic thinking is in demand in the light of the recent crisis. But it is constrained by the prevailing way of thinking about the economy and about economics. This book equips the reader with a better understanding of current thinking and increases awareness of other possibilities. This selection of essays provides the foundations for debate at the levels of methodology and mode of thought; not only does awareness at these levels increase mutual understanding, making debate more constructive and increasing the possibilities for creative new developments, but it also puts the onus on economists to communicate and defend their own approach. This collection builds up these foundations and addresses particular issues, such as differences in meaning of key concepts. These issues have important practical implications for theory and policy.
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