Science and the Economic Crisis

Beschreibung

This book not only explores the ways in which the economic crisis and associated austerity policies have adversely impacted the physical and human infrastructure and conduct of scientific research, but also considers how science can help us to understand the crisis and provide original solutions. Starting with a detailed but accessible analysis of the scientific method and the nature of scientific prediction, the book proceeds to address the failure to forecast the economic crisis and the origins of the continuing inertia in economic policy and theory. Attention is drawn in particular to the shortcomings of neoclassical economics in terms of its description of the economic system as being mechanical in nature and characterized by equilibrium. This perspective mirrors the limitations and outdated ideas of nineteenth century physics, which the book contrasts with the insights offered by modern physics. The impact of neoliberal ideologies on scientific research is also discussed in detail, highlighting their stifling effect on innovation and diversification. In closing, the book emphasizes the need for state intervention to guide and support scientific research as the core engine of economic development that will deliver a sustainable future.

This book not only explores the ways in which the economic crisis and associated austerity policies have adversely impacted the physical and human infrastructure and conduct of scientific research, but also considers how science can help us to understand the crisis and provide original solutions. Starting with a detailed but accessible analysis of the scientific method and the nature of scientific prediction, the book proceeds to address the failure to forecast the economic crisis and the origins of the continuing inertia in economic policy and theory. Attention is drawn in particular to the shortcomings of neoclassical economics in terms of its description of the economic system as being mechanical in nature andcharacterized by equilibrium. This perspective mirrors the limitations and outdated ideas of nineteenth century physics, which the book contrasts with the insights offered by modern physics. The impact of neoliberal ideologies on scientific research is also discussed in detail, highlighting their stifling effect on innovation and diversification. In closing, the book emphasizes the need for state intervention to guide and support scientific research as the core engine of economic development that will deliver a sustainable future.

Autor*in

Francesco Sylos Labini

Themen in »Science and the Economic Crisis«

Complex Systems in economic crisis Science and scientific policy Neoclassical economic theory on the scientific enterprise Research Evaluation Predictions in natural sciences Forecasts in science Research policy European crisis and science Out of equilibrium models Competition in research Predictions in natural sciences data-driven science, modeling and theory building

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