At this apocalyptic moment in our history, it’s time for grand gestures. And the grandest of all gestures would be to unhinge the capitalist project – to break out of the vice-like grip of the capitalist algorithm – and to create a new global operating system.
But we’re not going to do it by regulating finance, passing another Glass–Steagall Act or by pushing through a Robin Hood Tax. The only way . . . is to get at the very heart of the beast – the DNA of the beast – by shifting the theoretical foundations of economic science.
At the University of Manchester, a group of undergraduate economics students have broken off from the free-market orthodoxy and created The Post-Crash Economics Society. Their motto, “ The world has changed, the syllabus hasn’t – is it time to do something about it?” These students are pissed off at their economics professors for failing to explain, predict or warn about the financial crash of 2008. Students at other universities are encouraged to join the revolution, demanding that alternative economic theories be brought back to center focus, that the neoclassical bias of economics departments be recognized and abandoned, and that economics programs prepare students for the real world economic crisis we are facing. You can sign their petition or better yet, head to kickitover.org, grab some posters and bring the meme war to your campus! If enough campuses kick off . . . we can rewrite the ground rules, recode the system, overhaul the paradigm, and #killcapitalism for good.
P.S. A bunch of us heterodoxes are planning to stir up a catalytic moment at next January’s AEA meeting. On January 3, 2014 we’re heading to the Philadelphia Marriott Downtown hotel to crash the annual meeting of the American Economic Association and occupy the place. Email [email protected] if you want to join us.