page of professional economic journals are filled with mathematical
formulas leading the reader from sets of more or less plausible
but entirely arbitrary assumptions to precisely stated but irrelevant
theoretical conclusions�. Year after year economic theorists continue
to produce scores of mathematical models and to explore in great
detail their formal properties; and the econometricians fit algebraic
functions of all possible shapes to essentially the same sets
of data without being able to advance, in any perceptible way,
a systematic understanding of the structure and the operations
of a real economic system."
1973 Nobel Memorial Prize Winner in Economic Science.*
At a time of
declining representation of critical thinking in economics, the
New School Economic Review aims to be a student-run journal
with a content influenced by the history and tradition of the New
history points to a multidisciplinary and heterodox approach to
the social sciences. The early Classical thinkers - Smith, Ricardo
and Marx - realized that the study of economics must be the study
of political economy - economics within a social and political context.
In keeping with this tradition, the New School Economic Review
will serve as a medium for critical thinking in economics but with
a multidisciplinary perspective encompassing all the social sciences.
Furthermore, the NSER will aim to develop a forum for professors,
practitioners, and students to discuss current issues in the discipline
of economics while sharing insights from other disciplines, as well
as debating world political and social affairs.
Leontief (1982) Letter in Science, Issue 217, p104; taken from
T. Lawson (1997) Economics
and Reality, Routledge, London, p4.