Overarching economic theory and economics education in times of crisis

In this paper, we have argued how research and education in economics should be conducted under the current circumstances where the “crisis of capitalism” is being referred to in mainstream media. Though major research trends in mainstream economics are characterized by the development of piece-meal social engineering in recent days, research on an overarching theory of the capitalist economy and its educational dissemination should be still highly desired, to build an intellectual infrastructure for deliberative democratic decision-making by the public. Given this basic standpoint, we have discussed the importance of the issue of how to discuss capital from a bird’s eye view of the capitalist economy.