Revolt of Economics students

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See Teaching Economics after the Crisis.  J-C Trichet: ECB President “As a policy-maker, I felt abandoned by conventional tools.” (2010).

This may be mostly about macro-economics, but reflects fundamental inadequacies in the underlying science that afflict micro-economics and have poisoned fundamental ideas in strategy. Even the most basic tools, such as the PQ demand-curve, are hopelessly unrealistic depictions of real-world mechanisms, and attempts to adapt them end up like trying to squeeze Cinderella’s ugly sisters’ foot into a dainty shoe. Standard economic models do not deal ...

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Strategy – a troubled discipline

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Managers may not know or care, but this really matters. I’ve argued for professional strategic management before [search the archive], but if there’s a crisis in the discipline itself, there’s little chance of ever achieving that aim. Be clear – the academic topic of strategy is in real crisis. Students don’t like the courses, recruiters don’t value what they learn, executives don’t use its tools, and academics don’t want to be part of the field. A recent academic ...

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