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Tuesday, July 02, 2013

Economics Is Better (In Some Ways) Than It Used To Be

Frances Woolley (there is also a discussion of each point and counterpoint):

Economics is Better (in some ways) Than it Used to Be: The discipline of economics is in better shape today than it was in the 1970s, 80s and 90s. Here are five reasons why:
1. Now, economists test their theories. ...
2. Now, economists are better at establishing causality. ...
3. Now, economics is (somewhat) more open to a range of ideologies and methodologies ...
4. Now, economics is engaging ...
5. Now, economic research is (in some ways) more democratic. ...
Still, every silver lining has a cloud. Each one of these positive trends has a not-so-positive flip side.
1*. Economists test their theories. But only some test results get published. ...
2*. Causality isn't everything. Correlations are interesting too. ...
3*. Economics is not that open to methodological diversity. ...
4*. Public engagement makes the senior administration happy, but no one ever got tenure by blogging. ...
5*. Old barriers have been replaced by new ones. ...
So the profession is far from perfect. But it is better than it used to be. ...

    Posted by on Tuesday, July 2, 2013 at 09:54 AM in Economics, Methodology | Permalink  Comments (3)

          


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