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What Do Economists Contribute? : Cato Institute Book Ser. - Daniel B. Klein

What Do Economists Contribute?

By: Daniel B. Klein

Hardcover | 24 January 1999 | Edition Number 1

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Economists tend to devote themselves to the technical frontiers of their discipline. That might work in physics, where important new decisions are made by experts. But in political economy the important decisions are made, not by experts, but by ordinary public officials and voters. They are innocent of basic economics, and need edification in the basics. This task is neglected, even denigrated, by academic economists. Academic rewards go to refiners on the frontier, even though refinements are often of small relevance to public issues. Great economists of this century - Hayek, Coase, Schelling, Tullock, Kirzner, Graham, Hutt, Philbrook, and McCloskey - address the existential issue for economists: How do we contribute to human betterment? They express their esteem for economic research that is firmly rooted in public issues and that contributes to public discourse. Some suggest that the academic focus on technical refinement not only diverts economists from efforts at public edification, but might even mislead economists in their own understanding of economic affairs.
Industry Reviews
'The title of this book raises a provocative question that should make all economists think. What is our raison d'etre? Only a few economists have specifically addressed the issue. Several of the more challenging efforts are included here.' - James M. Buchanan, Professor of Economics, George Mason University - 'Do economists have much influence on government policy, particulary over, say, 5 or 10 years? Probably not. Is that because they don't try hard enough or is it because politicians care more about the next election that about the opinion of economicsts? In this splendid collection, some published as long ago as the 1930s, nine great economists consider these questions. The editor's illuminating introduction sorts out the eare of agreement and disagreement between them' - Mark Blaugh, Visiting Professor of Economics, University of Exeter

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Non-FictionEconomicsPolitical EconomyEconomic Theory & PhilosophyEconometrics

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Published: 18th June 1999

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