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Coelho, De Worken-Eley and McClure (2005) showed that, 1963 through 2004, critical commentary declined significantly in the American Economic Review, Economic Journal, Journal of Political Economy, Quarterly Journal of Economics and the Review of Economics and Statistics. Using the same method,...
Persistent link: https://www.econbiz.de/10008484282
Today’s macroeconomics courses are built around Solow and Romerstyle growth theories, and micro-founded equilibrium macro models of the ‘real business cycle’ variety. Hewing to a course description with such an intellectual structure is a derogation of my personal and...
Persistent link: https://www.econbiz.de/10008484286
In this essay reprinted from Social Forces 1926, Glenn E. Hoover laments the state of economic science. He suggests that because important political-economy decisions do not naturally fall to individuals with better knowledge and stronger motivation to make the decisions right, but rather are...
Persistent link: https://www.econbiz.de/10008484301
The writer observes that the fundamental economic principles taught in our higher education classrooms have not found their way into our colleges’ administration suites. Administrators rely on enrollment and tuition increases to balance their budgets. Although there are some...
Persistent link: https://www.econbiz.de/10008484346
Over the past four decades, top economics journals have virtually eliminated critical commentary (comments, replies, rejoinders, and the like). This article shows the data and discusses these steep declines in critical commentary. To the extent that critical commentary is beneficial to...
Persistent link: https://www.econbiz.de/10008484353
Rose Friedman (née Director), the Chicago-trained economist, was a very important contributor to Milton Friedman’s scholarly output, popular writings, and television series. His remarkable role in society was to a significant extent a joint role from which she cannot be separated.
Persistent link: https://www.econbiz.de/10011019963
This is a reprint of a brief essay originally published in 1951. Hayek looks back on the age of liberalism and its collapse. During the generations of growing darkness, there were a few figures who bridged the age of liberalism and the postwar revival of its ideas and values. Hayek identifies...
Persistent link: https://www.econbiz.de/10010549061
In Dec. 2008/Jan. 2009 I conducted a web-based survey of economists in my native country of the Czech Republic, and received 182 responses (a response rate of over 25 percent). The survey included 21 policy questions, each anchored in the status quo and soliciting judgment on whether policy...
Persistent link: https://www.econbiz.de/10008492690
One answer is that Milton Friedman possessed a rare combination of attributes that enabled him to communicate as easily with a mass audience as with his professional peers. He also emerged on the public stage at a time when his message of limited government had unusual resonance. Developments in...
Persistent link: https://www.econbiz.de/10010659507
This essay responds to the question, “Why is there no Milton Friedman today?” In doing so, it briefly examines several aspects of Friedman’s professional life that contributed to his success in the academic, policy, and public realms as well as the influence of the social and political...
Persistent link: https://www.econbiz.de/10010659509