Economic Orthodoxy and Emerging Pluralism

  • Fraser Murison Smith


This chapter summarizes major steps in the emergence of twentieth-century economic orthodoxy and traces the recent emergence of a new methodological pluralism. To foresee where economics may be going, it is necessary to understand where it came from: particularly the social and technical contexts within which major changes occurred. The economics that emerged during the nineteenth and twentieth centuries was wholly unprepared for a world in which the economy engages in measurable coevolution with nature; yet recent developments indicate the field is adapting to this new world. The chapter concludes with a discussion of economics’ political influence and its implications for the economy of the future.


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© The Author(s) 2019

Authors and Affiliations

  • Fraser Murison Smith
    • 1
  1. 1.San RafaelUSA

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