Friday, August 19, 2011

What is an Economist? Tyler Cowen's Version

In a recent interview that Tyler Cowen did with the Economist, there is a segment where he talks about the econ blogosphere. Specifically, he discusses how the blogosphere and the internet is changing the very definition of what it means to be an economist:
If you look at someone like Interfluidity, known to his mother as Steve Randy Waldman, he is not credentialed the way that Paul Krugman is, but he is a brilliant guy. I think of him as much of an economist or more than any economist. I think partly, the notion of who or what is an economist is breaking down. Take Matt Yglesias, Matt is a philosophy undergraduate major at Harvard. Matt is a way better economist than most economists. It is as if being an economist is this new thing. It’s not just about researching an area for a few years and publishing a paper, it’s about knowing how to twiddle the dials on the internet and learn from this collective thing called the blogosphere, your twitter feed, or other sources that are out there and Matt is awesome at that, and in a funny way is one of the world’s best economists.
It is somewhat surprising to hear an academic economist acknowledge that people who are not formally schooled in economics can be better economists than people who have their PhDs. As someone who is planning on getting an MA in economics and working in the private sector, it is refreshing to hear that you don't have to have a doctorate to make a difference in the field.

I'll be on the lookout for other interesting answers to the question "What is an economist?" and I'll be posting them here. I expect a wide variety of descriptions, including some less than favorable portrayals of the "dismal scientists." If you have your own description of what an economist is (or isn't), share it in the comments section below.

1 comment:

  1. I enjoyed this interview. Tyler Cowen is one of my favorite economists. If you haven't had a chance to read "The Great Stagnation", it's a good one to put on the list. I am also a Matt Yglesias fan.

    I'd say being an economist is more about the way one thinks about and explains human events and social phenomena. They do so by appealing to models of human behavior or "laws" of human nature. History, in contrast, gives explanations by citing primary sources and constructing adhoc theories and narratives. Sociology and political science similarly construct theories freely about macrophenomena.

    Economists start with assumptions about human behavior they include in models. They then deduce the consequences of those assumptions to explain and understand events, and predict the consequences of various policies.

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