There are plenty of scathing commentaries flying around about the failure of modern macroeconomics to prevent the credit crunch and ensuing global recession. This piece by Edmund Conway in the Telegraph today focuses on the opportunities for students coming to the discipline afresh.

“In the corridors of the Bank of England and Treasury, there is a distinct whiff of excitement. For the first time in decades, economists have been able to throw away their textbooks and go back to first principles; to exhume once-sacrilegious figures such as John Maynard Keynes or Friedrich Hayek. It is unsettling, no doubt, but this is a fertile moment, an opportunity from which may be born a better model of how to run an economy.”

More here

Subscribers to the Financial Times might be following their series on the future of Economics

And Stephanie Flanders offers her views here