The close to monopoly position of neoclassical economics is incompatible with normal ideas of democracy.Economics has some of the qualities of a science, but because of the very nature of its subject matter it is forever and fundamentally ideological.It is best not to deceive oneself and others about that.Economics’ preoccupation with values and worldly acts means that in a democratic society it has a moral responsibility to promote the exploration of economic knowledge from more than one point of view so as to make possible the informed and intelligent debate and discussion that democracy requires.But the hegemony of neoclassical economics means that departments of economics have become political propaganda centres.In 2002, Joseph Stiglitz, a recent winner of the so-called Nobel Prize for Economics, wrote in The Guardian that economics as taught “in America"s graduate schools . . . bears testimony to a triumph of ideology over science.”Is this a legitimate use of public funds?What is certain is that it is a dangerous state of affairs, but one that is now being challenged.The PAE movement immodestly seeks over the next ten years a revolution: the transformation of economics into a genuinely pluralistic enterprise wishing to contribute to, rather than subvert, democratic processes.The movement’s success depends in part on other disciplines and professions withdrawing their patronage from the neoclassical hegemony in favour of the now thousands of economists working for the new order.

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