Sheila Dow
"David Hume on History, Development and Happiness"
Sheila Dow is currently Professor Emeritus of Economics at the University of Stirling, Scotland, Adjunct Professor of Economics at the University of Victoria, Canada, and a member of the Institute of New Economic Thinking Academic Council. Her academic career has been marked by a series of major contributions on a range of topics. She studied for her Ph.D. degree in Economics at the University of Glasgow (1978-81); her thesis was entitled “Money and Real Economic Disparities between Nations and between Regions”. Alongside continuing interest in this topic, she focused more specifically on methodological issues in the fields of macroeconomics, money and banking and questions related to the endogeneity of money. Sheila Dow is also well-known for her contribution to the history of economic thought – in particular in relation to Hume, Smith, and Keynes. One of her most famous books - The Methodology of Macroeconomic Thought - was published in 1996 and contributed to work at the interface between history of macroeconomics and methodologies of macroeconomics. The 2008 financial crisis confirmed her in questioning the capacity of Dynamic Stochastic General Equilibrium models to explain the observed fluctuations and to generate economic policy solutions. In response she formulated a methodological critique based on the understanding that the future of macroeconomics requires a new ontological basis.’ Her more recent books which include Foundations for New Economic Thinking (Palgrave Macmillan 2012), and co-edited volumes The General Theory and Keynes. The 2008 financial crisis confirmed her in questioning [or: led her to question] the capacity of Dynamic Stochastic General Equilibrium models to explain the observed fluctuations and to generate economic policy solutions. In response she formulated a methodological critique based on the understanding that the future of macroeconomics requires a new ontological basir the 21st Century(Edward Elgar, 2018) and Money, Method and Post-Keynesian Economics for the 21st Century (Edward Elgar, 2018) reveal her deep interest in the Keynesian and post-Keynesian economics. In the course of her career, she has held the position of Chair of INEM and co-editor of Economic Thought, and served as a member of the Academic Advisory Board of the Independent Social Research Foundation. Finally, any portrait of Sheila Dow would be incomplete without emphasising her rare ability to follow a dual career. Alongside her academic work she has held positions at the Bank of England and the Government of Manitoba, and acted as special advisor on monetary policy to the UK Treasury Select Committee.