Arnold
Tash Jayasinghe
CibbuanoBecome an economist by being a selfish bastard
September 9th 2008 02:30
Cory Doctorow, on BoingBoing, was digging up old papers when he found this paper by Robert H. Frank, Thomas Gilovich, and Dennis T. Regan:
"Does Studying Economics Inhibit Cooperation?"
The authors start with some stink, citing a classic paper by Francis Walker:
I think it's funny that Walker considered economists to be outside the set of 'real people'. It takes a healthy dose of self-denigration to become an economist, it seems, or, at least, not considering the activity of economists makes the models written by economists much more accurate.
It's easy to see why the public opinion of economists is so low... economists, swimming happily beneath waves of mathematical analysis, often advocate ideas that seem non-sensical or even immoral to the general population. For example:
If we look at the reasoning behind this seemingly anti-environmental policy, though, it makes clearer sense:
Remember, the study of economics is not to make sure that everyone is treated fairly - no, the aim is to find ways to maximize the public good. Sometimes, this involves breaking some eggs.
If you're considering selecting economics as a major, you'll be up against these nefarious forces, the tide of public opinion howling for your spleen. Are you up for the challenge?
"Does Studying Economics Inhibit Cooperation?"
The authors start with some stink, citing a classic paper by Francis Walker:
"In an essay written in 1879, Francis Amasa Walker tried to explain “why economists tend to be in bad odor amongst real people.” Walker, who went on to become the first president of the American Economic Association, argued that it was partly because economists disregard “…the customs and beliefs that tie individuals to their occupations and locations and lead them to act in ways contrary to the predictions of economic theory.”"
It's easy to see why the public opinion of economists is so low... economists, swimming happily beneath waves of mathematical analysis, often advocate ideas that seem non-sensical or even immoral to the general population. For example:
"For example, economists commonly advocate auctioning rights to discharge atmospheric pollutants to the highest bidders, leading critics to bemoan economists' “shocking disregard for the environment and lack of compassion for the poor.”
If we look at the reasoning behind this seemingly anti-environmental policy, though, it makes clearer sense:
"Indeed, as almost every economics student now knows, the effect of auctioning pollution rights is to concentrate the burden of pollution reduction in the hands not of the poor but of those people and firms who can reduce pollution at the lowest cost."
If you're considering selecting economics as a major, you'll be up against these nefarious forces, the tide of public opinion howling for your spleen. Are you up for the challenge?
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