Goodhart, Charles (2001) A plea to economists? Eastern Economic Journal, 27 (2). pp. 215-220. ISSN 0094-5056
Abstract
Economists can to some extent enlighten policymakers and the public and influence public policy. That enlightenment is achieved more by concrete policy work and application of basics than by fancy models and fancy statistical significance. There is a trade-off between relevance/importance and rigor/precision. Because many economists concentrate on rigor and precision, their influence in public affairs is not as good as it could be. The professional emphasis on scholastic crafts forsakes the Smithian character of political economy. A more Smithian character for the economics profession would lead to better government policy.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.palgrave-journals.com/eej/index.html |
| Additional Information: | © 2002 Palgrave Macmillan |
| Library of Congress subject classification: | H Social Sciences > HB Economic Theory |
| Journal of Economic Literature Classification System: | H - Public Economics > H0 - General > H00 - General A - General Economics and Teaching > A1 - General Economics > A11 - Role of Economics; Role of Economists; Market for Economists A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values |
| Sets: | Research centres and groups > Financial Markets Group (FMG) Collections > Economists Online |
| Date Deposited: | 19 Aug 2008 09:51 |
| URL: | http://eprints.lse.ac.uk/7144/ |
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