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Modern Times

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It may be, as has been said, that the twin twentieth-century golden ages of economic theory are over; that an epoch of design, applied work and big data is at hand; that network theory has yet to deliver a truly social economics. Before excitement about the new day takes over, though, there is some unfinished business to attend to. To an economic journalist growing up in the 1980s, three developments in particular stood out.  New Trade theory, New Growth theory and something called the Gang of Four, which was shorthand for a series of transformative advances in game theory taking