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Politics and Activism

A Look at Economics as a Profession

Constraints on Innovation of Thought

15
A Look at Economics as a Profession
tuftsalumni.org

Who exactly who is responsible for delivering economic policy solutions to governments of the western world? As one would expect it is the economic professors you may have had if you attended a top institution for your undergraduate studies or graduate studies. Let us consider the evolution of the economic field from the time economics became a discipline of behavioral science in the late 1800’s. Where economists began writing for policy makers and the greater public, over time, the language used in published works became more and more specialized to where an individual who is removed from that discipline could not actually evaluate the research, rather they would take the findings of the economist at face value. So naturally, the individual does not receive multidimensional feedback on their work from anyone outside of their profession, which is problematic as policy ramifications are often not assessed, specialists are not held responsible, and many different populations of people are affected.

It is also important to recognize the structure of the academic world and how a professor is able to excel in their position, ie receive tenure. The professor must publish a certain number of articles in a certain select few prestigious journals in order to receive better salary benefits, as well as tenure. However, in order for the academic to publish in one of these journals, the research needs to fit into a certain vein of thought. This school of thought is referred to as Neoclassical economics, and this will often determine what research positions are most desirable. What this means, is research has begun to lack innovation to a certain degree as it must be able to make it into a prestigious journal. To return to the earlier point that was made regarding a lack of external influence of opinion within the insular field of economics. If there is little interdisciplinary influence then, economic opinion (research) could actually become destructive or ineffective in some areas. This could be the case if individuals from varying disciplines cannot offer input from a position of knowledge regarding other backgrounds.

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