Look Who it Was Random video

Do we need a new Economics? Some questions, here. | Ferry Stocker | TEDxAmRingSalon

1,583 views · Published 24 July 2015 · 18:14 · Indexed 20 September 2026

Channel: TEDx Talks · 2015 · Nonprofits & Activism

Watch on YouTube

The recent financial and economic crisis caught most economists completely
off guard. Most of them did not see the disaster coming but were lured into
a kind of complacency generated by two factors. On the one hand, a long
period of benign and seemingly stable economic development and by subscribing
to highly elegant but practically irrelevant mathematical models which
left no room for crises or other nasty surprises, on the other hand. Since the
crisis, economics as a science has been under sever attack – and rightly so!
Still, changes e.g. in the curriculum, the teaching models are slow, if hardly
existent. Most economists cling to what they did/have done before the crisis.


Ferry Stocker is an economist and senior lecturer at the Vienna University of
Business and Economics as well as at the Danube University Krems.

This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at http://ted.com/tedx

More from this channel