Guest post by PRANJAL RAWAT

A revolution of sorts is on the cards for the students of economics amidst a great surge of international support for radical restructuring of the subject and its pedagogy. From the politically incorrect ‘Non-Autistic Economics’ movement to the Post-Crash Society in Manchester to the Jadavpur University Heterodox Economics Students’ Association (JUHESA) in Kolkata we see an underlying common theme. The narrowness of the neoclassical economics is being criticized. Take for instance what the preamble of JUHESA has to say about Neoclassical Economics, “Students have rightly found it appalling that a theory which could neither predict nor suggest remedies to the biggest recession in more than half a century, continues to be taught as the sole approach to economic analysis the whole world over.” This so-called revolution will remain just a source of media income and wash over without changing much, unless scholars of economics take it upon themselves to destroy the inertia and raise arms against the old order. Revolutions exists only in retrospect, the rest is all popular gossip. For that purpose, it would do well to draw strength from the life and work of Michal Kalecki (1899 – 1970), a post-keynesian economist, whose work has remained relevant for a period longer than it took for American economy to recover from the Great Depression only to crash in the Great Recession. Continue reading Ideas to Occupy Economics – A Note on Michal Kalecki: Pranjal Rawat →