The Evolution of Economics: Where We are and How We Got Here

Long Term View, Vol. 7, No. 1, 2008

Posted: 21 Aug 2009

See all articles by Peter J. Boettke

Peter J. Boettke

George Mason University - Department of Economics

Peter T. Leeson

George Mason University - Department of Economics

Daniel J. Smith

Middle Tennessee State University - Department of Economics and Finance

Date Written: July 23, 2009

Abstract

This paper suggests that contemporary economics is characterized by three key features. First, it is focused on 'big questions' in political economy and is willing to look outside economics to search for these questions and their answers. Second, contemporary economics is empirically focused. 'Grand theory' has taken a back seat to empirical explorations of institutions in particular. Third, modern economics has been dramatically influenced by 'freakonomics' - the application of economic principles to unusual and unorthodox topics - and is increasingly directed at a popular lay audience. We argue that these particular areas of modern economics’ evolution are not unrelated. The development of each key feature is connected to the others.

Suggested Citation

Boettke, Peter J. and Leeson, Peter T. and Smith, Daniel J., The Evolution of Economics: Where We are and How We Got Here (July 23, 2009). Long Term View, Vol. 7, No. 1, 2008. Available at SSRN: https://ssrn.com/abstract=1438344

Peter J. Boettke

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)

Peter T. Leeson (Contact Author)

George Mason University - Department of Economics ( email )

4400 University Drive
Fairfax, VA 22030
United States

HOME PAGE: http://www.peterleeson.com

Daniel J. Smith

Middle Tennessee State University - Department of Economics and Finance ( email )

MTSU Box 190
1301 E. Main St.
Murfreesboro, TN 37132-0001
United States

HOME PAGE: http://www.danieljosephsmith.com/

Register to save articles to
your library

Register

Paper statistics

Abstract Views
630
PlumX Metrics
!

Under construction: SSRN citations will be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information