Economics professionalized as an academic discipline in the mid-twentieth century with the emergence of a dominant paradigm—neoclassical economics, also known as the Dynamic Stochastic General Equilibrium model—as ‘normal science’, which largely displaced previously widespread approaches such as the historical school, American institutionalism, or German ordo-liberalism. After a brief resurgence of pluralism in economics in the 1960s and 1970s, neoclassical mainstream economics once again claimed supremacy in its discipline and secured it through institutional incentive systems.