Devin Fidler, MBAThe article Paradigm Shift Emerging in Economics said:
Neo-classical models have dominated economic thought over the last half century. This approach has emphasized human rationality, complex mathematical modeling, laissez faire policies, and long-term equilibrium. Initially embraced in response to the issues of industrialization, this approach has shown itself to be the best available alternative for predicting and dealing with the challenges of modern societies. However, there are signs that these ideas are poised for reevaluation in the light of this century’s challenges.
A new cohort of economists and competition theorists are questioning many of the fundamental theoretical and empirical assumptions of this model. Simultaneously, real-world applications of strict neo-classical concepts have consistently met with ambiguous results. Finally, organizations and governments now face the emergence of global environmental and social issues that simply do not fit well into the current model. At this point, further innovations are clearly called for.
Based on the combined weight of these trends, the Institute for Alternative Futures is now forecasting a game-changing paradigm shift in both academic and applied economic frameworks over the course of the next generation. Such a shift will have a substantial impact on many areas including regulatory framing, business strategy and development assistance.
Devin Fidler, MBA was author of this article in 2007. He is
currently director of The
International Business Trends Center, an economic
As a professional futurist, Devin is interested in organizational strategies and how these play out over time. His primary focus is global business trends and has worked with a number of Fortune 500 corporations, nonprofit organizations and governmental agencies to better understand their shifting strategic landscape.
In the past, Devin has been involved in projects to better understand the future strategic implications of such diverse issues as demographic shift, the expansion of the European Union, changes in disability law, employee benefit trends and shifts in national economic outlook. He has lived and worked in a number of countries and feels that the opportunity to observe developments in emerging regions first-hand has given him a unique outlook on change that informs much of his work.
He is also currently involved in doctoral research in the futures studies department of Corvinus University in Budapest. In the past, he has studied at the Institut des Hautes Etudes Economiques et Commerciales in Paris and holds a BA in History from the University of Colorado. He has prior experience as a Futurist at the Institute for Alternative Futures, in the Statistics and Research Center of the U.S. Chamber of Commerce and as an analyst for The Royal Bank of Scotland.