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A Copernican Revolution in Economics by Dennis Snower

This is probably the most exciting and fruitful time ever to become an aspiring economist. Why? Because economics is reaching its Copernican Moment – the moment when it is finally becoming clear that the current ways of thinking about economic behavior are inadequate and a new way of thinking enables us to make much better sense of our world.

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The Making of “Rethinking the Theoretical Foundation of Economics” by David Sloan Wilson and Dennis J. Snower

On this account, the neoclassical paradigm is much more difficult to displace than the astronomical paradigm of Ptolemy … We claim that there is nothing “optimal” about the neoclassical depiction of economic behavior: it ignores some of the most important capacities of human beings – capacities that have made us so successful in the evolutionary process, namely, our capacity to cooperate with one another (often in large numbers) and our capacity to innovate, enabling us to find unpredictable solutions to the challenges we face.

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