CFDP 1788

Economists as Worldly Philosophers

Author(s): 

Publication Date: March 2011

Pages: 12

Abstract: 

While leading figures in the early history of economics conceived of it as inseparable from philosophy and other humanities, there has been movement, especially in recent decades, towards its becoming an essentially technical field with narrowly specialized areas of inquiry. Certainly, specialization has allowed for great progress in economic science. However, recent events surrounding the financial crisis support the arguments of some that economics needs to develop forums for interdisciplinary interaction and to aspire to broader vision.

Keywords: 

Economic methodology, Specialization, Behavioral economics, Psychology, Rational expectations, Economics as a moral science, Pareto criterion, Interdisciplinary, Journal of Economic Perspectives

JEL Classification Codes:  B4, B41

Note: 

Published in American Economic Review, Papers and Proceedings (May 2011), 101(3): 171-175 [DOI]