Despite its evident failings, the neoclassical economic doctrine still remains the north star of most economic policy makers. While progressives blame right wing media outlets, in truth, the persistence of neoclassical ideology owes as much to the failings of the Left as it does to the successes of the Right. Keynesianism, the purported progressive solution, has failed to come to terms with the realities of the globalized, innovation-powered, 21st century economy in which we live. The reality is that neither neoclassical economics nor Keynesianism is fit to deal with America's present economic crisis. More...
Liberal economics has failed because it can't articulate a viable alternative to the hegemonic neoclassical economic doctrine, according to Rob Atkinson, President of the Information Technology and Innovation Foundation. To regain currency in economic affairs, liberals need a new economic agenda based not on redistribution but on innovation and competitiveness. Liberals should embrace a new emerging doctrine--Innovation Economics--which focuses on productive public-private partnerships to boost productivity and innovation and could point the way toward bipartisan agreement on economic policy. More...
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