Book Review: How Economics Professors Can Stop Failing Us: The Discipline at a Crossroads and The Downsizing of Economics Professors: How it will Happen, and Why it will Succeed.

To be more precise, Payson notes that academic economists find themselves in a self-perpetuating vicious circle, where the current leaders follow in the footsteps of past leaders and, having succeeded at doing so, expect the same from new economists who wish to join their ranks. While this work may not be penned as part of the academic economics field and thus may constitute a shrinking of the academic economics discipline, Payson is quick to note that there will also be opportunities for growth via term paper graders, test proctors, and content experts (chapter 5). While Payson hits on many important points in this second volume, and adeptly lays out a plan to move the academic economics discipline forward, he again overlooks the importance and potential ramifications of the divide between mainstream and heterodox economists. [Extracted from the article]