Abstract

https://ssrn.com/abstract=881771
 
 

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High Priests and Lowly Philosophers: The Battle for the Soul of Economics


Peter J. Boettke


George Mason University - Department of Economics

Christopher J. Coyne


George Mason University - Department of Economics

Peter T. Leeson


George Mason University - Department of Economics

2006

Case Western Reserve Law Review, Vol. 56, No. 3, 2006

Abstract:     
We contend that the transformation of economics from a discipline that studies the economy to one that is entrusted with its control has threatened the very soul of economics. The false pretense of scientific management led economists to promise to accomplish tasks that they cannot legitimately achieve. We provide three cases where the scientistic pretensions of economists got the better of them in the 20th century: Keynesian demand management, the practice of cost/benefit analysis by regulators and lawyers, and the debate over market socialism. If our argument is right, the role of the economist should move from high priest back to lowly philosopher.

Number of Pages in PDF File: 19

Keywords: Economic Philosophy, Economic History, What should economists do?

JEL Classification: B20, B53, N01


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Date posted: February 8, 2006 ; Last revised: October 25, 2010

Suggested Citation

Boettke, Peter J. and Coyne, Christopher J. and Leeson, Peter T., High Priests and Lowly Philosophers: The Battle for the Soul of Economics (2006). Case Western Reserve Law Review, Vol. 56, No. 3, 2006. Available at SSRN: https://ssrn.com/abstract=881771

Contact Information

Peter J. Boettke (Contact Author)
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
703-993-1149 (Phone)
703-993-1133 (Fax)
Christopher J. Coyne
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
Peter T. Leeson
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
HOME PAGE: http://www.peterleeson.com
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