#PolicyBlog Grow up Economists!


Sitting at the big table means you have to take responsibility for your work. According to Yuan Yang of Rethinking Economics in this article, Krugman supposes that economists should not be blamed for the lack of political action to deal with climate change. He says that economists cannot be held accountable for policy makers’ inaction. Like Yuan hints in the article, this seems to be an incredibly immature and a poor excuse for their mistakes. Economists such as Krugman obviously miss the obvious fact that their research prescribes what policy makers ought to do and therefore need to understand the impact of their research. They also seem to ignore the fact that they conduct research within our economy, leading to some questions being researched more than others. They cannot dismiss that this does set the agenda for political debates. But enough about the problem, what is the solution to this broken link between economics and policy? Rethinking Economics believes that the solution lies in changing our economics curriculum in universities (ECON+ has an article on this here). They argue for pluralism in economics to include environmental changes, politics, ethics etc. Many schools of thought need to be represented in undergraduate degrees, not only the neoclassical. What would you have liked to seen in your economics degree?


Article: Maria 

Image: Flickr


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