How the Economics of the Economics Profession Resists New Thinking

Following a thought-provoking panel discussion at the American Economics Association, Nobel Laureate and Institute Advisory Board member James Heckman and INET President Rob Johnson discuss peer-reviewed journals and a professional incentive structure that constricts the idea space and reinforces tired orthodoxies in economics.

[Jonx]

It is really wonderful to be alive during a time when you can listen to thinkers of this caliber. I hope this gets at least 1M views.

[isaacdarche]

Here's another problem you may be overlooking: the average person does not understand economics, but they look to the profession to provide moral legitimacy to the prevailing political order. Many people feel that the terrible things that happen in their lives are anecdotal, and that in the aggregate "this is the best we can do." A crisis of economics is a crisis of the political order.

[HypothesisI]

Anyone have a link to the panel discussion which is discussed here?

[davidwilkie]

How does anything change if not by correspondence with the First Principle of change, QM-TIME, pure-math relative-timing ratio-rates Perspective in Completeness.

[stephaneguy]

I think that Economic degre is necessary for a company

[voranartsirisubsoontorn]

Economics has been great but there are division into many direction of theories that leader/government/political people choose to follow. Whenever choices are not the proper for the world or a nation then such economical ways can harm more than help. I myself a strong believer in economical theories that promote people and the people demand than central dictation. When liberal talks about economics it is not about economy but group self indulgent. For example financial people using some economical theory to help them gain. There is no guideline existing to limit risk created by these people in finance and investment.

[martin]

1.Stop using "incentivize" use "motivate" or "encourage" instead