We are caricatured at the NY Times
Several readers have asked me about this article in the NY Times. It begins as follows:
Maybe it's because I have spent my education and career at Princeton, MIT, and Harvard, rather than Chicago, but I have never viewed the economics profession as being dominated by free-market orthodoxy.
In Economics Departments, a Growing Will to Debate Fundamental AssumptionsMany economists in the past have questioned "free-market orthodoxy"--for example, Samuelson, Tobin, Modigliani, Solow, Sen, Stiglitz, Akerlof, Phelps,.... Does the economics profession consider these guys "deluded or crazy?" No, we give them Nobel Prizes!
For many economists, questioning free-market orthodoxy is akin to expressing a belief in intelligent design at a Darwin convention: Those who doubt the naturally beneficial workings of the market are considered either deluded or crazy.
Maybe it's because I have spent my education and career at Princeton, MIT, and Harvard, rather than Chicago, but I have never viewed the economics profession as being dominated by free-market orthodoxy.
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