ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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History of Anxiety and Possibility

The developed world faces a new bout of anxiety given the current status of technology development. To understand the anxiety, the historical perspective on the short- and long-run effects of technological progress on labour substitution, post the Great Depression, is traced. The present technological progress stands in contrast to what Keynes called the “Economic Possibilities” of technological unemployment. The probable policies for tackling contemporary issues of technological unemployment are discussed.

Plurality in Teaching Macroeconomics

For economists, the Great Recession—the worst crisis the world has seen since the Great Depression of the 1930s—has highlighted the need for plurality in macroeconomics education. Ironically, however, there is a move towards greater insularity from alternative or contrasting points of view. Whereas, what is required for vibrant policymaking is an open-minded academic engagement between contesting viewpoints. In fact, there does not even exist a textbook that contrasts these contesting ideas in a tractable manner. This pedagogical paper is an attempt to plug that gap by presenting a comparative study across different traditions in macroeconomics in a unified framework, which can be developed into a semester-long intermediate-level course.
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