"Why was David Ricardo concerned with the impact of large public debts on the accumulation of private capital? Probably because he was writing at a time when British public debt exceeded 200% of GDP. Today's economists sometime imagine that they are the first to think hard about important economic issues. This is plain wrong: today's economists tend to to use more sophisticated maths (sometime excessively sophisticated maths) than their predecessors, but this certainly does not mean that they think harder (sometime quite the opposite). In order to start thinking again, we need to put the study of the history of economic thought, together with the study of the history of economic facts, at the core of our curriculum" (Thomas Piketty).
The European Society for the History of Economic Thought promotes:
- the teaching and research in the history of economic thought in Europe, taking into account different traditions and languages,
- the co-operation with European national economic societies and organisations in the history of economic thought,
- the communications and exchange of ideas amongst European teachers and researchers in the history of economic thought, including the organisation of conferences, seminars and summer schools,
- the establishment of links with national economic societies and organisations for the history of economic thought outside Europe,
- the introduction of innovative methods in the teaching of the history of economic thought,
- the collaboration in researches in the history of economic thought on a European basis.