Economic thinking governs much of our world. But the discipline’s teaching is stuck in the past. Centred around antiquated 19th-century models built on Newtonian physics, economics treats humans as atomic particles, rather than as social beings.
While academic research often manages to transcend this simplicity, undergraduate education does not – and the influence of these simplified ideas is carried by graduates as they go on to work in politics, media, business and the civil service.
Economists such as myself tend to speak in tightly coded jargon and mathematical models. We speak of “economic laws”, tacitly positioning these as analogous to the laws of physics. We wrap a thick layer of technical jargon around our study material and ban all moral or ethical discussions from the