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How Influential is Economics?

Frey, Bruno

In: De Economist, 2006, vol. 154, no. 2, p. 295-311

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    Titre
    • How Influential is Economics?
    Auteur
    • Frey, Bruno. Institute of Empirical Economic Research, University of Zurich, Bluemlisalpstr. 10, 8006, Zurich, Switzerland
    Type de document
    • Postprint
    Langue
    • Anglais
    Publié dans
    • De Economist, 2006, vol. 154, no. 2, p. 295-311. Kluwer Academic Publishers-Plenum Publishers; http://www.springer-ny.com
    Autre version électronique
    Identifiant OAI-PMH
    • oai:doc.rero.ch:321976
    Summary
    Economists often claim that their discipline has a great influence on the economy. An analysis of the existing literature reveals, however, that little convincing empirical evidence exists. The two approaches used are subject to major shortcomings. The ‘Economics Production Function' relating the input of economic ideas to economic outcomes, is faced with major estimation problems. The ‘Revealed Behaviour Approach' of choosing to study economics is based on very restrictive assumptions. It is argued that the ‘Case Study Approach' analysing specific policy instances constitutes a more promising avenue and should be undertaken to identify more general patterns of influence