What Do Economists Contribute?

Economists tend to devote themselves to the technical frontiers of their discipline. But in political economy the important decisions are made, not by experts, but by ordinary public officials and voters, who need edification in the basics. This task is neglected by academic economists. Academic rewards go instead to refiners of the frontier. In this text great economists of the 20th century Hayek, Coase, Schelling, Tullock, Kirzner, Graham, Hutt, Philobrook and McCloskey explore the existential question for economists: how do they contribute to human betterment?
Praise for WHAT DO ECONOMISTS CONTRIBUTE?
"Do economists have much influence on government policy, particularl y over, say, 5 or 10 years? Probably not. Is that because they don't try hard enough or is it because politicians care more about the next election than about the opinion of economists? In this splendid collection, some published as long ago as the 1930s, nine great economists consider these questions. The editor's illuminating introduction sorts out the area of agreement and disagreement between them." -Mark Blaug, University of Exeter
"This book raises provocative questions that should make all economists think. What is our raison d'etre? Daniel Klein brings together several of the best efforts from those economists who have addressed this fundamental issue." -James M. Buchanan, George Mason University
Economists direct their research mainly to the technical questions. The editor's illuminating introduction sorts out the area of agreement and disagreement between them." -Mark Blaug, University of Exeter
"This book raises provocative questions that should make all economists think. What is our raison d'etre? Daniel Klein brings together several of the best efforts from those economists who have addressed this fundamental issue." -James M. Buchanan, George Mason University
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." The Everyman is innocent of basic economics, and needs edification in the basics. The task of educating the Everyman is neglected, sometimes even denigrated, by academic economists. Academic rewards go to those at the frontier, even though their refinements are often of minor relevance to public issues. Daniel B. Klein has here gathered essays of nine 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.
DANIEL B. KLEIN is Associate Professor of Economics at Santa Clara State University. His books include Curb Rights: A Foundation for Free Enterprise in Urban Transit, authored with A. Moore and B. Reja.