The state of economics is poor: it has narrowed its focus to a viewpoint whose explanatory power was heavily questioned not only during the global financial crisis after 2007, but whose policy recommendations even enabled the crisis and exacerbated its consequences. Moreover, it seems unable to contribute much to solving the major environmental problems of our time. However, outside of mainstream economics, a critical perspective - heterodox economics - has developed, which rejects the basic assumptions of mainstream economics and, in various schools - including Post-Keynesianism, complexity economics, and ecological economics - develops questions and provides alternatives that challenge mainstream economics and suggest a paradigm shift.

The translation was done with the help of artificial intelligence. A subsequent human revision was done primarily in terms of content. This book is a translation of an original German edition. The translation was done with the help of artificial intelligence (machine translation by the service DeepL.com). A subsequent human revision was done primarily in terms of content, so that the book will read stylistically differently from a conventional translation.

Autorentext

Arne Heise is a Professor of Economics in the Department of Socioeconomics at the University of Hamburg and Director at the Center for Economic and Sociological Studies (CESS) there. His work and research focus on heterodox economics, economic policy, and macroeconomics.