Economic debates seem, at best, to become more sophisticated, without being resolved. Economics as a discipline has been unable to fulfill adequately the roles which society expects of it, and the reasons for this failure lie in the social and political contexts and consequences of economic ideas. When we discuss economic ideas, or teach and develop them, we most often apply a false – ‘scientistic’ – model that masks this. A different and more genuinely scientific approach to economics is possible and necessary, but requires far reaching changes in the culture, procedures, and institutional underpinnings of economics teaching and research, and in the public communication of economic ideas.

Sanjay G. Reddy is an Associate Professor of Economics at The New School for Social Research. His areas of work include development economics, international economics, and economics and philosophy. He is Co-Academic Director of the India China Institute at the New School. Professor Reddy possesses a Ph.D. in economics from Harvard University, an M.Phil. in social anthropology from the University of Cambridge, and an A.B. in applied mathematics with physics from Harvard University. He has held fellowships from the Center for Ethics, the Center for Population and Development Studies at Harvard University, and the Center for Human Values at Princeton University. Most recently he received a research grant from the inaugural grants program of Institute for New Economic Thinking. He has previously taught at Columbia University, and been a visitor at diverse academic institutions in Europe, India and the U.S.