The New Pragmatism, or economics and policy for the future

Kolodko, Grzegorz (2014) The New Pragmatism, or economics and policy for the future. Acta Oeconomica, 64 (2). pp. 139-160. ISSN 0001-6373

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Abstract

Economics is not only a means of interpreting the past, but it must become an instrument for shaping the future, too. It should show inevitable future economic processes, with their links to culture, technology, and environment. With theoretical knowledge of this area, strategies of economically, socially, and environmentally sustainable development can be put in place. In the future, heterodoxy is bound to dominate, and economics will become increasingly interdisciplinary. Future generations need economics of moderation and a theory describing it, as opposed to the thus far prevailing economics of either deficiency or excess. We need the New Pragmatism.

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