What Do Economists Contribute? (Cato Institute Book). This item is unavailable.What Do Economists Contribute? (Cato Institute Book)

Economists direct their research mainly to the technical frontiers of the discipline. But the actual decisions of political economy are made, not by experts, but by ordinary public officials and voters—the "Everyman." However, the task of educating the Everyman is neglected, sometimes even denigrated, by academic economists.

Daniel Klein has here gathered essays of 9 great economists of this century—Friedrich Hayek, Ronald Coase, Thomas Schelling, Gordon Tullock, Israel Kirzner, Frank Graham, William Hutt, Clarence Philbrook, and D. McCloskey—addressing the existential issue for economists: "How do we contribute to human betterment?"

The authors express their esteem for economic research firmly rooted in public issues and that contributes to public discourse. Some suggest that the academic focus on technical refinement not only diverts economists from efforts at public edification, but might even mislead economists in their own understanding of economic affairs.

Pre-publication endorsements of hardcover
'The title of this book raises a provocative question that should make all economists think. What is our raison d'etre? Only a few economists have specifically addressed the issue. Several of the more challenging efforts are included here.' - James M. Buchanan, Professor of Economics, George Mason University

'Do economists have much influence on government policy, particularly over, say, 5 or 10 years? Probably not. Is that because they don't try hard enough or is it because politicians care more about the next election than about the opinion of economists? In this splendid collection, some published as long ago as the 1930s, nine great economists consider these questions. The editor's illuminating introduction sorts out the area of agreement and disagreement between them.' - Mark Blaug, Visiting Professor of Economics, University of Exeter
Reviews of Hardback

'[The book] contains outstanding essays from nine great economists of this century....the result is lively, informative, engaging discourse ....[The book] is highly recommended reading for lay readers as well as students of economics, and has a great deal of substansive value for even experienced, practicing economists.' - Reviewer's Bookwatch

'In What Do Economists Contribute? the writers try to explain just how economists contribute to the betterment of mankind. Although the title implies that the book is directed to students and intelligent laymen who would otherwise not know the answer, the book is aimed just as much at professional economists themselves. All three groups, especially undergraduates contemplating study in economics, will be fascinated and perhaps troubled by what they read.' - Philip R.Murray, Ideas on Liberty