Friday, January 10, 2025

Declining Influence of Economists

Economists Are in the Wilderness. Can They Find a Way Back to Influence?
https://www.nytimes.com/2025/01/10/business/economy/economists-politics-trump.html
Economists have long helped to shape policy on issues like taxes and health care. But flawed forecasts and arcane language have cost them credibility.

Economists’ Way Out of the Wilderness
https://www.project-syndicate.org/commentary/mainstream-economists-have-lost-influence-by-clinging-to-antiquated-theories-by-james-k-galbraith-2025-01
Monopoly is a powerful thing, particularly where economic ideas are concerned. If economists are to solve the problems that people care about, they must stop treating production as an afterthought and accept – as all other natural and social sciences have – that theories of equilibrium are a comforting nineteenth-century relic.


Who is right about ‘Maganomics’: bearish economists or bullish investors?
https://www.ft.com/content/76ee5977-1f16-470b-86a5-400209aad5a3
Equity market optimism about president-elect’s impact contrasts with warnings over hit to GDP growth.


Thinking Like an Economist: How Efficiency Replaced Equality in U.S. Public Policy
https://www.chicagobooth.edu/review/capitalisnt-has-thinking-like-economist-distorted-our-politics 

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