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Money, Blood and Revolution: How Darwin and the doctor of King Charles I could turn economics into a science by George Cooper

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9. The Paradigm Shift

“Each new scientific theory preserves a hard core of the knowledge provided by its predecessor and adds to it.”

Thomas Kuhn

If I have brought you with me up to this point, you should by now be willing to consider that we humans are better modelled as Darwinian competitors than as neoclassical optimisers; that our natural economic system is a stagnant form of feudalism, but this does not explain recent economic progress; that the field of economics is in a confused state of scientific crisis; that scientific revolutions often involve replacing equilibrium models with dynamic circulatory theories; and, finally, that we may need a small shift in perspective and a bit of imagination to push economics beyond its crisis. ...

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