Is Economic Failure an Economics Failure?
Economists, widely believed to wield malign influence over economic policymaking, have fallen into disrepute. But does the fault lie with just a few powerful individuals, or is there a deep flaw in the discipline that continuously leads its practitioners astray?
PRINCETON – As 2023 begins, it is clear that an ever-growing number of people hold democratic capitalism in disrepute, and economists along with it. But how much responsibility – and what kind – do economists bear for our economies’ ills?