The State of Economics, the State of the World

19 Pages Posted: 7 Oct 2016

See all articles by Kaushik Basu

Kaushik Basu

Cornell University - Department of Economics; IZA Institute of Labor Economics; Brookings Institution

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Date Written: September 12, 2016


This paper, based on the introductory remarks made at the two-day conference on "The State of the Economy, the State of the World," is an idiosyncratic stocktaking of the trajectory of economics from Adam Smith to contemporary times, with special attention to the rise of development economics. Given the challenges faced by the global economy in recent times, and especially since 2008, it is time for a serious evaluation of economics for policy making. The paper comments on some potential themes and ideas that motivated the conference and formed the basis of discussions and debate. This is done keeping in mind the nature of knowledge engagement the World Bank Group is expected to have with the world.

Keywords: Economic Policy, Institutions and Governance, Industrial Economics, Economic Theory & Research, Economic Growth

Suggested Citation

Basu, Kaushik, The State of Economics, the State of the World (September 12, 2016). World Bank Policy Research Working Paper No. 7816, Available at SSRN:

Kaushik Basu (Contact Author)

Cornell University - Department of Economics ( email )

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