Hostname: page-component-78c5997874-dh8gc Total loading time: 0 Render date: 2024-11-19T14:24:08.513Z Has data issue: false hasContentIssue false

THE ECONOMIST AS SCIENTIST, ENGINEER, OR PLUMBER?

Published online by Cambridge University Press:  03 June 2021

Huei-Chun Su*
Affiliation:
Huei-chun Su: Institute for New Economic Thinking at the Oxford Martin School, University of Oxford;
David Colander
Affiliation:
David Colander: Middlebury College.
*
*Corresponding author. E-mail: [email protected].

Abstract

Some well-known economists suggest that a good economist should act like an engineer, a surgeon, a dentist, or even a plumber. These metaphors are useful in helping economists reflect the nature of economics and their role in society. But which is the most sensible one? This paper argues that economists should be playing all these roles and more, because economics is not a single entity, and each entity has separate goals, methods, and boundaries. To take this multiplicity of roles into account, this paper argues that in addition to the traditional boundary that delineates the disciplinary domain of economics against other sciences, an overarching boundary between economic science and applied policy needs to be recognized. It then examines Esther Duflo’s “economist as plumber” metaphor and suggests that a better metaphor for Duflo’s purpose would be “general contractor,” a metaphor that, if accepted, would suggest radical change in training applied policy economists.

Type
Symposium: Economics and its Boundaries
Copyright
© The History of Economics Society, 2021

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Footnotes

The authors would like to thank the organizers and participants of the Charles Gide Workshop 2019 as well as the two anonymous referees for their comments. Huei-chun Su would also like to thank Eric Beinhocker for support of this work and Luis Valenzuela for his suggestions on an early version of this paper. Only the authors are responsible for the arguments here.

References

REFERENCES

Antweiler, Werner. 2016. “The Case for All-Inclusive Prices.” https://wernerantweiler.ca/blog.php?item=2016-09-18. Accessed March 21, 2021.Google Scholar
Backhouse, Roger, and Biddle, Jeff. 2000. “The Concept of Applied Economics: A History of Ambiguity and Multiple Meanings.” In Backhouse, Roger and Biddle, Jeff, eds., “Toward a History of Applied Economics.” History of Political Economy 32 (Suppl.): 124.Google Scholar
Backhouse, Roger, and Cherrier, Béatrice. 2017. “The Age of the Applied Economist.” History of Political Economy 49 (Suppl.): 133.CrossRefGoogle Scholar
Banerjee, Abhijit V., and Duflo, Esther. 2009. “The Experimental Approach to Developmental Economics.” Annual Reviews of Economics 1 (1): 151178.CrossRefGoogle Scholar
Banerjee, Abhijit V., and Duflo, Esther. 2017. “An Introduction to the Handbook of Field Experiments.” In Banerjee, A. and Duflo, E., eds., Handbook of Field Experiments . Volume 1. Amsterdam: North Holland, pp. 124.CrossRefGoogle Scholar
Blaug, Mark. 1997. Economic Theory in Retrospect. Fifth edition. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
Bowles, Samuel. 2016. The Moral Economy: Why Good Incentives Are No Substitute for Good Citizens. London: Yale University Press.Google Scholar
Bowles, Samuel, and Carlin, Wendy. 2020. “What Students Learn in Economics 101: Time for a Change.” Journal of Economic Literature 58 (1): 176214.CrossRefGoogle Scholar
Cartwright, Nancy, and Hardie, Jeremy. 2012. Evidence-Based Policy: A Practical Guide to Doing it Better. Oxford: Oxford University Press.CrossRefGoogle Scholar
Cherrier, Béatrice. 2017. “Classifying Economics: A History of the JEL Codes.” Journal of Economic Literature 55 (2): 545579.CrossRefGoogle Scholar
Chetty, Raj. 2013. “Yes, Economics Is a Science.” The New York Times. October 20. https://www.nytimes.com/2013/10/21/opinion/yes-economics-is-a-science.html. Accessed February 23, 2021.Google Scholar
Chetty, Raj, Looney, Adam, and Kroft, Kory. 2009. “Salience and Taxation: Theory and Evidence.” American Economic Review 99 (4): 11451177.CrossRefGoogle Scholar
Colander, David. 2009. “What Was ‘It’ that Robbins Was Defining?Journal of the History of Economic Thought 31 (4): 437448.CrossRefGoogle Scholar
Colander, David. 2011. “Applied Policy, Welfare Economics, and Mill’s Half-Truths.” In Davis, John and Hands, Wade, eds., The Elgar Companion to Recent Economic Methodology. Cheltenham, UK: Edward Elgar Publishing, pp. 173187. Also in Colander, D. and Su, H., How Economics Should Be Done: Essays on the Art and Craft of Economics. Cheltenham, UK: Edward Elgar, 2018, pp. 65–79.Google Scholar
Colander, David. 2013a. “Creating Humble Economists: A Code of Ethics for Economists.” In DeMartino, George and McCloskey, Deirdre, eds., Handbook on Professional Economic Ethics. Cambridge University Press, pp. 737749. Also in D. Colander and H. Su, How Economics Should Be Done: Essays on the Art and Craft of Economics. Cheltenham, UK: Edward Elgar, 2018, pp. 240–252.Google Scholar
Colander, David. 2013b. “Searching for Keys under a Streetlight: Why Journalists Shouldn’t Turn to Nobel Prize Winners for Expertise in Policy.” Paper presented to ASSA Annual Meeting San Diego, CA, January 4, 2013.Google Scholar
Colander, David. 2018. “The Scope and Method of Applied Policy Economics.” American Economist 63 (2): 132146.CrossRefGoogle Scholar
Colander, David, and Freedman, Craig. 2018. Where Economics Went Wrong: Chicago’s Abandonment of Classical Liberalism. Princeton: Princeton University Press.Google Scholar
Duflo, Esther. 2017. “The Economist as Plumber.” American Economic Review: Papers & Proceedings 107 (5): 126.CrossRefGoogle Scholar
Hayek, Friedrich. 1945. “The Use of Knowledge in Society.” American Economic Review 35 (43): 519530.Google Scholar
Hayek, Friedrich. 1967. Studies in Philosophy, Politics and Economics. Chicago: University of Chicago Press.CrossRefGoogle Scholar
Keynes, John Maynard. 1924. “Alfred Marshall, 1842–1924.” Economic Journal 34 (135): 311372.CrossRefGoogle Scholar
Keynes, John Maynard. 1931. “Economic Possibilities for Our Grandchildren.” In Keynes, J. M., Essays in Persuasion. London: Macmillan, pp. 358373.Google Scholar
Keynes, John Neville. [1890] 1917. The Scope and Method of Political Economy. Fourth edition. London: Macmillan.Google Scholar
Koen, Billy Vaughn. 2003. Discussion of the Method: Conducting the Engineer’s Approach to Problem Solving. Oxford, UK: Oxford University Press.Google Scholar
Leuz, Christian. 2018. “Evidence-Based Policymaking: Promise, Challenges and Opportunities for Accounting and Financial Markets Research.” Accounting and Business Research 48 (5): 582608.CrossRefGoogle Scholar
Mankiw, Gregory. 2006. “The Macroeconomist as Scientist and Engineer.” Journal of Economic Perspectives 20 (4): 2946.CrossRefGoogle Scholar
Mill, John Stuart. [1844] 1967. “On the Definition of Political Economy; and on the Method of Investigation Proper to It.” In Robson, J. M., ed., Collected Works of John Stuart Mill . Volume IV. Toronto: University of Toronto Press, pp. 309339.Google Scholar
Polak, Paul. 2008. Out of Poverty: What Works When Traditional Approaches Fail. San Francisco: Barrett-Koehller Publishers.Google Scholar
Robbins, Lionel. [1932] 1935. Essay on the Nature and Significance of Economic Science. Second edition. London: Macmillan.Google Scholar
Robbins, Lionel. 1981. “Economics and Political Economy.” American Economic Review 71 (2): 110.Google Scholar
Romer, Paul. 2016. “Why It Makes Sense for an M.D. to Lead the World Bank.” https://paulromer.net/md-to-lead-worldbank/. Accessed February 23, 2021.Google Scholar
Roth, Alvin. 2002. “The Economist as Engineer: Game Theory, Experimentations, and Computation as Tools for Design Economics.” Econometrica 70 (4): 13411378.CrossRefGoogle Scholar
Senior, Nassau. [1836] 1951. An Outline of the Science of Political Economy. New York: Augustus M. Kelly.Google Scholar