Economics and Finance: The Monopoly and Dangers of the Mainstream School of Thought ^*

Abstract

The academic world is too often disconnected with the needs and realities of the economy and society. It has not sufficiently drawn lessons from the 2008 financial crisis, and repeatedly demonstrates great restraint when faced with financial scandals. Its responsibility is, however, to analyze these problems and to argue objectively.

To make sure academic freedom is not merely empty words or a pleasant principle inscribed on university pediments, it must be exercised and practiced regularly by faculty members. The field of finance addresses the issue of (asset) prices but does not transmit values. Money is presented implicitly or explicitly as an end rather than a means.

Citation

Chesney, M. (2021), "Economics and Finance: The Monopoly and Dangers of the Mainstream School of Thought ^* ", Bourghelle, D., Pérez, R. and Rozin, P. (Ed.) Rethinking Finance in the Face of New Challenges (Critical Studies on Corporate Responsibility, Governance and Sustainability, Vol. 15), Emerald Publishing Limited, Leeds, pp. 199-204. https://doi.org/10.1108/S2043-905920210000015032