This paper conjectures that economics has changed profoundly since the 1970s and that these changes involve a new understanding of the relationship between theoretical and applied work. Drawing on an analysis of John Bates Clark medal winners, it is suggested that the discipline became more...

This paper has two purposes: first, to survey existing quantitative analyses of economics and the economics profession; and, second, to suggest that a more rigorous quantitative approach towards certain aspects of the subject will not be possible until historians of economic thought take fuller...

The FMP model exemplifies the Keynesian models later criticized by Lucas, Sargent and others as conceptually flawed. For economists in the 1960s such models were “big science”, posing organizational as well as theoretical and empirical problems. It was part of an even larger industry in...

It is widely accepted that economics has changed significantly since the 1970s with the development of new data sources, new methods of analysis and the computer. This paper argues that this transformation of the discipline involves more than just a rise of empirical work: it involves a new...