© 2012

Foundations for New Economic Thinking

A Collection of Essays


Table of contents

  1. Front Matter
    Pages i-xi
  2. Sheila C. Dow, Alexander Dow
    Pages 33-51
  3. Sheila C. Dow
    Pages 52-71
  4. Sheila C. Dow
    Pages 72-82
  5. Sheila C. Dow
    Pages 83-104
  6. Sheila C. Dow
    Pages 105-128
  7. Sheila C. Dow
    Pages 140-161
  8. Sheila C. Dow
    Pages 162-177
  9. Sheila C. Dow, Victoria Chick
    Pages 178-196
  10. Sheila C. Dow
    Pages 197-209
  11. Sheila C. Dow
    Pages 231-235
  12. Back Matter
    Pages 236-263

About this book


New economic thinking is in demand in the light of the recent economic crisis. This book equips the reader with a better understanding of current ways of thinking as well as an awareness of other possibilities, providing the foundations for debate in theory and methodology alongside practical implications for policy.


economics foundation macroeconomics

Authors and affiliations

  1. 1.University of StirlingUK

About the authors

SHEILA C. DOW is emeritus professor of Economics at the University of Stirling, UK. She has also been employed by the Bank of England and the Manitoba Government, been Director of the Stirling Centre for Economic Methodology and Chair of the International Network for Economic Methodology and author of Economic Methodology: An Inquiry.

Bibliographic information

Industry Sectors
Finance, Business & Banking


'For many years Sheila Dow has wisely guided our thinking through her deep discussions of methodology and its implications for teaching, research and policy, and by a wide range of analytical writings, especially on monetary matters and the workings of monetary production economies in general. Her collection of essays could not have come at a more appropriate time. For her guidance is needed more than ever as we rethink and revise our analysis of how our world works, at the moment, very badly, and what may be done about it.' - G. C. Harcourt, Professor Emeritus, University of New South Wales, Australia

'Sheila Dow has been toiling in the fields of economic methodology for a number of decades, and this book gathers the fruits of her efforts. The range of topics covered is impressive, from the non-neutrality of formalism, to how best to handle open systems, pervasive uncertainty, animal spirits, and other problems that economists must face. Throughout the volume, the vital importance of an open attitude to alternative approaches - in a phrase, methodological pluralism - is stressed. It is a fine collection.' - Bruce Caldwell, Professor of Economics, Duke University, USA

'Sheila Dow understands that the failures of economics in the financial crisis are the product of the ways in which economists think about their subject. This book explains the problem and the pluralism needed to put it right.' - John Kay, Author and Economist