Unintended Consequences of Economics as a Science

Due to the way economics is taught in most places, the relationship between inner and external worlds tends to remain unexamined by many students, scholars and business leaders: how assumptions in economics affect the real world. Recent empirical research presented in Chapter 1 suggests that the study of mainstream neoclassical economics, with its image of human as a selfish, competitive figure, may function as a self-fulfilling prophecy, making students more selfish, and business decisions more profit-oriented. People may adapt to a norm, and do what they regard necessary for success. There seems to be far too little open exchange on what ‘success’ is, what is the future they want to see and contribute to.