Orthodox Economics Dominance Continues Despite Robust Radical Challenges
The article examines how mainstream economics has changed since the 2008 financial crisis. It focuses on the idea of rational expectations and looks at how different groups defend, challenge, or critique this assumption. The study finds that while there have been challenges to the idea, defenders of rational expectations still dominate the field. This is because they control key institutions like academic journals, which act as gatekeepers for new ideas in economics.
