Frontiers of economics in the post-neoclassical era

Abstract

The most important fact about 21st century economics is that it is the post-neoclassical era in terms of the frontiers of economic research. One can still find orthodox, neoclassical theory in most textbooks, especially those at the upper undergraduate level. However, this no longer reflects the reality of how economists at the cutting edge of economics are thinking, including those who are in the mainstream of the profession. The intellectual orthodoxy of neoclassicism has died (Colander, 2000) and the current thrust of research at the cutting edge of the frontier is the search for the appropriate alternative to replace it.

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