[lbo-talk] Discipline the Economists

Ferenc Molnar ferenc_molnar at hotmail.com
Wed Apr 13 22:29:09 PDT 2011


Dean Baker in The Guardian:

The proposals to combat groupthink are all very nice, but the bottom line is that the economists at the IMF all know that they will never jeopardise their careers by repeating what their bosses say. If we want economists at the IMF and other institutions who actually think for themselves, they have to know that they will endanger their jobs and their careers if they do mindlessly follow their boss.

Whenever I have raised this point in conversations with economists, they invariably think that I am joking. When I convince them that I am serious, they think the idea of holding economists responsible for the quality of their work to the point of actually jeopardising their careers is outrageously cruel and unfair.

The reality is that tens of millions of people across the globe have seen their lives wrecked because these economists did not know what they were doing – or worse, had doubts but chose the safer route of groupthink. It is outrageous that ordinary workers who were doing their jobs can end up employed, while the economists whose mistakes led to their unemployment can count on job security.

http://www.commondreams.org/view/2011/04/12-13



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