Backward-oriented economics

Arbeitspapier

Nowadays, academic journals of high standing rarely accept a conceptual idea in a paper not instantly accompanied by econometric estimates. The idea would almost certainly get rejected. Empirical validation based on past statistical data has produced an unfortunate backward orientation in economics. While one can learn from the past, this approach fails when the underlying conditions strongly change. The paper suggests various possibilities to overcome the intense publication pressure in so-called top journals and the overemphasis on instant empirical evidence. Academia is, however, unlikely to adapt. As economics is too backward oriented, other disciplines or cranks may well dominate future economic policy.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: CREMA Working Paper ; No. 2021-32

Klassifikation und Themen

• Klassifikation: Wirtschaft ; General Economics: General ; Role of Economics; Role of Economists; Market for Economists ; Economic Methodology: General ; Econometric and Statistical Methods and Methodology: General ; Data Collection and Data Estimation Methodology; Computer Programs: General

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Frey, Bruno S.
• Ereignis: Veröffentlichung
• (wer): Center for Research in Economics, Management and the Arts (CREMA)
• (wo): Zürich
• (wann): 2021

Weitere Informationen

• Handle: http://hdl.handle.net/10419/246015
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ