ABSTRACT
This paper reviews the different elements suggesting the existence of a crisis in the economic science. In particular it is examined the possibility or impossibility of coexistence of different paradigms in Economics; is it possible the synthesis of different paradigms? why yes or why no? Also, it is reviewed the recent rnethodology discussion related to the lack of relevance and lack of explanation of Reality of present formal and esoteric theoretic models; modern formal theory is more interested in optimizing than in explaining. How did we arrive to this state of affairs and what to do about it. Latin America faces urgent economic problems, therefore relevance should be the main focus of most economic research.
KEYWORDS:
Keynesianism; monetarism; history of economic thought; economic methodology