How Economics Should Be Done
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How Economics Should Be Done

Essays on the Art and Craft of Economics

David C. Colander and Huei-Chun Su

David Colander has been writing about economic methodology for over 30 years, but he goes out of his way to emphasize that he does not see himself as a methodologist. His pragmatic methodology is applicable to what economists are doing and attempts to answer questions that all economists face as they go about their work. The articles collected in this volume are divided, with the first part providing a framework underlying Colander’s methodology and introducing Colander’s methodology for economic policy within that framework. Part two presents Colander’s view on the methodology for microeconomics, while part three looks at Colander’s methodology for macroeconomics. The book closes with discussions of broader issues.
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Chapter 17: CREATING HUMBLE ECONOMISTS: A Code of Ethics for Economists

Essays on the Art and Craft of Economics

David Colander

Extract

From the movie Inside Job, one gets the sense that economists are ethically challenged because they take payments for writing papers that say what the funders of their research want them to say. The sense conveyed by the movie is that economists are for sale. In my view, that is far from the case; economists are not for-hire any more than a similar group of academic experts, and probably significantly less than many, because by academic standards, economists tend to be well paid.

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