The Economics of the Future

The author depicts the main notorious economic theories and models prior to the advent of the most urgent human challenges: environment, overpopulation, inequalities, conflicts, and pandemics as well as more volatile and profound crises often linked to excess financialization. According to him, before these perils, despite disagreements, economics seemed to keep the crises within acceptable narrow bands by enlarging the markets through prosperity periods while striving for government interventions during severe crises. But with the appearance of these new potentially fatal perils, he asses with perplexity that economics has little to offer to come up with credible secure alternatives. He proposes we should rapidly enhance our knowledge by introducing new methods, hypotheses, models, multidisciplinary approaches, and innovative path-breaking analyses to gain a tiny likelihood of moderating these threats. The mission is gigantic and necessitates immense intellectual and financial resources. Innovative proposals are submitted to comprehensive examinations. The aim would be to sufficiently improve what we already possess and introduce new revolutionary ways of reflecting on a world that had drastically muted. Only then will we have a slight prospect of bringing events under acceptable control.