Grants / Projects we are funding

Rethinking Economics – Core funding

Grant details


Awarded on:01/04/2021

Duration:24 months


Area of interest

Systems change

Themes covered


How can the way we run our economy change if all of those who enter positions of influence capable of changing it have been taught in the same narrow way about how the economy works? To really change the system we need to focus on education within its roots, and consider that the change could come bottom up as well as top down.

What is the issue?

One economic perspective is taught as if it were a universally established truth, critical thinking is not rewarded, and the real-world context in which economic ideas emerged or would be applied are almost entirely omitted. The environment is seen as an ‘externality’, separate from our economy and environmental destruction is seen as a problem for climate scientists to solve, not economists.

Alongside this there is a stark underrepresentation of women, people of colour, working-class people and other less privileged groups in economics departments. These two issues in economics are inextricably linked; the monoculture of thought in our academia and policy making is borne of a monoculture of practitioners. The pool of economic decision makers must diversify to ensure the subject asks and answers questions that benefit society as a whole.

What will the project try to achieve?

Rethinking Economics university groups seek a culture shift in economics so that it serves people and planet. This shift in culture would include an economics curriculum that is pluralist, real-world focused, critical and decolonized, and economics departments which are populated by diverse critical students, lecturers and professors.  If realized, these changes would equip future economists with the tools and motivation to build just, resilient and sustainable economies and enable a change in the economic system we need to tackle the multiple crises our society faces.

Who might be interested in this project?

Students, educators, academics, activists, organisers, business leaders