What Do Economists Contribute?

by Daniel B. Klein (Editor)

Economists direct their research mainly to the technical frontiers of the discipline. But the actual decisions of political economy are made, not by experts, but by ordinary public officials and voters the "Everyman." However, the task of educating the Everyman is neglected, sometimes even denigrated, by academic economists.

Daniel Klein has here gathered essays of 9 great economists of this century Friedrich Hayek, Ronald Coase, Thomas Schelling, Gordon Tullock, Israel Kirzner, Frank Graham, William Hutt, Clarence Philbrook, and D. McCloskey addressing the existential issue for economists: "How do we contribute to human betterment?"

The authors express their esteem for economic research 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."

Genres: Economics

176 pages, Paperback

First published January 1, 1999

Reviews

[Petr Špecián · Rating 4 out of 5]

A collection of essays by renowned economists on the purpose of economic profession. Highly readable and partly informative. I consider Klein's Introduction to be an interesting contribution to the topic. All the texts are, nevertheless, exceeded by far by the concluding Hayek's lecture "On Being an Economist" that is thoughtful even beyond the usual Hayekian standard.