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Published in:
2019 | OriginalPaper | Chapter
Clemens Fuest Recommends “Yes, Economics Is a Science” by Raj Chetty
Author : Clemens Fuest
Published in: 21st Century Economics
Publisher: Springer International Publishing
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Abstract
Every economist who participates in debates about economic policy knows that, among “ordinary people,” the reputation of economics as a science is not great. The fact that economists often disagree is cited by many as proof that economic research is unreliable. For instance, the difference between “hawks” and “doves” in monetary or fiscal policy is an issue that regularly hits the headlines. Interestingly, most people know from their own experience that doctors often come up with different diagnoses for the same patient. But that does not make many people doubt that medicine is a science. Raj Chetty’s article is very helpful because he clearly explains what we can expect from economic research.