Recession – A Keynesian perspective
Tanay Balantrapu
In contrast to our understanding of Science, it is important that we realize that most social science disciplines are constructed around an amalgamation of debates rather than a collection of commonly accepted theorems. This is true even in the case of economics, as it falls squarely within the social sciences. In the words of Paul Ormerods, a renowned economist,Inflatable Slide
“…a serious problem with the way much economics is taught is that theorems are presented as if – that’s one of our favourite phrases, as if, so I can’t resist getting a mention of it in early – as if they had the same standing as, say, propositions in engineering textbooks. This is very far from being the case. Economics is much more a way of thinking about the world than learning about undisputed, scientifically settled theorems.”
The author is a post-graduate student at the University of Sussex, Brighton, UK, who is interested in the subject of Development Economics. He can be reached at tanayb@gmail.com.
