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economic science and practice

The Roles of Academic Economists and Policy-makers

9781858986906 Edward Elgar Publishing

Edited by Peter A.G. van Bergeijk, Professor of International Economics and Macroeconomics, international Institute of Social Studies, Erasmus University, The Hague, The Netherlands, A. Lans Bovenberg, Research Professor, CentER for Economic Research, Tilburg University and Research Professor, Research Center for Economic Policy (OCfEB), Erasmus University Rotterdam, The Netherlands, Eric E.C. van Damme, Center for Economic Research, Tilburg University, The Netherlands and Jarig van Sinderen, Professor of Economic Policy, Erasmus School of Economics, Erasmus University, the Netherlands

Publication Date: 1997 ISBN: 978 1 85898 690 6 Extent: 224 pp

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Economic Science and Practice seeks to bridge the gulf between economic theory and policy and overcome some of the problems created by the specialized nature of much economic research. A distinguished group of academic economists and experienced policymakers, from both Europe and the United States, sheds new light on the relation between theory and practice and reflects on the current state of economics.

There is an ever present danger that modern economic theory is becoming too detached from the real world. In contrast to this concern there are those who argue that there is a risk of practitioners and policymakers relying on pre-scientific ideas or ideologies not tested against the latest scientific insights. This book will not only help to improve communication between scientists and policymakers, but will also show how it is possible to strengthen the scientific base of economic policy and improve the social relevance of economic research and education.

Critical Acclaim

‘This book is the latest contribution to the “state of economics” literature. It approaches this through asking about the usefulness of academic economics for policymaking. This turns out to be a fruitful approach. . . these papers are useful – all offer much food for thought and are well worth reading. . . . the book is very readable, full of ideas, and well worth studying. Any student who is entering economics in the hope of contributing to debates over economics policy would be well advised to read it.’
– Roger E. Backhouse, The Manchester School

‘Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.’
– J.M. Keynes, The General Theory of Employment, Interest and Money, 1936

Contributors

Contributors: H.P. van Dalen, R. Eichenberger, B.S. Frey, L. Ad Geelhoed, A. Jacquemin, A. Klamer, E. Malinvaud, R. Portes, T.C. Schelling, J.J.M. Theeuwes

Contents

Contents: 1. Introduction: High Tech or Human Capital? Part I: Economic Role Models 2. Economists: First Semester, High Flyers and UFO’s (B. Frey and R. Eichenberger) 3. Users and Abusers of Economic Research (R. Portes) 4. Blood is Thicker than Water: Economists and the Tinbergen Legacy (H.P. van Dalen and A. Klamer) 5. Economists as Advocates: The Art of Making a Case (J.J.M. Theeuwes) Part II: Case Studies in Policy Analysis 6. Industrial Organization and Competition Policy: What are the Links? (A. Jacquemin) 7. Why Does Economics only help with Easy Problems? (T.C. Schelling) Part III: Economics and Society 8. The Proper Role of Theory (E. Malinvaud) 9. The Policymaker’s Demand for Economic Analysis (L. Ad Geelhoed) 10. Why Things are Different Index