Postscript: Is a new direction needed in economics?

Supplemental to the contributions in ifo Schnelldienst 14/2009, Justus Haucap, Duesseldorf University, has expressed his opinion in the current “methodology debate” in economics. Excellent economists should master, in his opinion, everything: theory, empirics and institutional knowledge: “Because we are not all mini Ronaldos of economics, however, and all of us are not like Krugman or Stiglitz, we need a division of labour and the co-existence of these three different, complementing specializations and not a monoculture of the one or other “school”.