Reposted from the INET blog. French translation here.
The idea that economics has recently gone through an empirical turn –that it went from theory to data– is all over the place. Economists have been trumpeting this transformation on their blogs in the last few years, more rarely qualifying it. It is now showing up in economists’ publications. Not only in articles by those who claim to have been the architects of a “credibility revolution,” but by others as well. This narrative is also finding its way into historical works, for instance Avner Offer and Gabriel Söderberg’s new book on the history of the Nobel Prize in economics.
The structure of the argument is often the same. The figure below, taken from a paper by Dan Hamermesh, is used to argue that there has been a growth in empirical research and a decline of theory…
View original post 3,172 more words
Utopia, you are standing in it! 
Recent Comments