Professorships for economic policy would be therefore an indispensable feature of the economic research and teaching. The economic policy expertise that was maintained at universities such as Freiburg and Cologne over the decades, evolved into the unloved stepchild. Internationally-oriented economists to supposedly defend themselves against the criticism of 83 German colleagues. It reported at least the Handelsblatt. The call was provincial and backward-facing content wrong. Debates at the universities of Cologne and Freiburg in sure background of the manifesto titled save the economic policy at German universities”such as free expectant Chair of economic policy are to be filled. Both faculties would appointed international economists, dominating the commonly used today in their professional methods.
Cologne want to create a research group specializing in macroeconomics. And exactly here the criticism has to start, if you look at the success of the social market economy. Freiburg and Cologne were after 1945 to major universities for the development of regulatory economics. Ludwig Erhard has not substantiated just as scientific empirical model the social market economy. The concept of its currency reform, implemented in 1948, and two years before the war started wanted to trend-setting principles to develop,”says Udo Nadolski, Managing Director of the Dusseldorf consulting firm Harvey Nash. So, the social was market economy not theoretical formula as a political creed with a cool head and hot heart”has been conceived.
The present economic models would be contrary to the socio-political practice. The manifest of the 83 professed is just not a distorted picture of the economics, but is an overdue heckling on the shortcomings of modern economics research to point out”Nadolski said. Professor Joachim Starbatty of Tubingen can reach a similar judgment. What we call financial crisis is a crisis of the currently dominant economic and lifestyle at the same time and also must be admitted candidly the modern economics. Who by the economics Nobel Prize winners, who in televised major scientists, who by the pundits has his warning voice raised in a timely manner? Sandii wonders at what representative congresses the dawning of the crisis has been seen”.