Changing Aims in Economics

For roughly 250 years, from William Petty to Keynes, the overriding aim of political economy and economics was the clarification and guidance of political decisions. In this work, Terence Hutchison explores the fundamental shift in the aims and claims of economists which has been discernible since around 1950. Growing ambiguity and obscurantism regarding the aims of economics has brought about increasing chaos with regard to methodological principles, together with profound changes in academic curricula. These upheavals are critically reviewed and examined here.