Testimonials

" David Hume once said "Truth springs from argument among friends." For too long economics has been without serious challenge from without and within. Econ Journal Watch is important because it provides a mechanism for open and honest debate. Without serious debate, serious science is simply not possible. "

David C. Rose
Professor and Chair, Department of Economics, University of Missouri-St. Louis


Econ Journal Watch
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KennedyKennedy

“Of course liberty was an important part of Smith’s legacy, but to imply or assert that modern constructions on Smith’s use of the invisible hand tagged to liberty is, in my humble view, tenuously stretching the connection between Smith’s use of the invisible hand metaphor and what some, but not Smith, called laissez-faire, a concept which Smith never used.”

Economic Notes from Underground

HakesHakes

“The preference falsification in which I engaged was to intentionally take a simple clear research paper and make it so complex and obscure that it successfully impressed referees. That is, I wrote a paper to impress rather than inform—a violation of my most closely held beliefs regarding the proper intent of research. I often suspected that many papers I read were intentionally complex and obscure, and now I am part of the conspiracy.”

KinsellaKinsella

“Preference falsification can occur in teaching when a personal intellectual compromise takes place with respect to the content of a class being taught. The professor publicly espouses a theory or mode of storytelling whose policy prescriptions are, in some cases, orthogonal to their private and professional views or attitudes.”

LeonardLeonard

“I can not say that my role as an economics instructor has informed my administrative decisions. Operating costs, salaries, benefits, services and supplies increase predictably each year. As an academic administrator I have unconsciously relied upon two of the least internally controversial, least combative means of bringing revenue in-line with probable operating costs. I have consistently taken operating costs as a given. More often than not, I have sought to increase enrollment or tuition, usually both, rather than rigorously controlling expenses With the few exceptions of painfully easing out moribund services and programs, I have ignored the academy’s traditional production function—the mix of faculty, curriculum and infrastructure—that drives our operating costs increases each year. Yet as an instructor, I have consistently demanded my students demonstrate in their responses to trivial case problems their ability to recognize inefficient and ineffective use of scarce resources and to propose alternatives.”

BensonBenson

“It took more than 25 years for me to suppress my destructive economic personalities so the narrative political economist could finally be free. I suppose I could relapse if I fail to take my meds (anti-depressants supplemented with beer and Jack Daniels), miss too many sessions with my therapists (Jim Gwartney, participants in Liberty Fund Colloquia), or lose touch with my support groups (APEE members, EJW editors and supporters, my wife and daughters).”

 
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Quote of the Day

To form part of science, a statement of fact must be not only true, but also interesting, and, more particularly, interesting to science....

[ Full Quote ]

Reliability, exactitude, does count as a factor contributing to scientific merit, but it is not enough. Two further elements enter into the assessment of a contribution. One is the relation to the systematic structure of science, to correcting or expanding this structure. The other is quite independent of both the reliability and the systematic interest of a discovery, for it lies in its subject matter, in its subject as known before it was taken up by science: it consists of the intrinsic interest of the subject matter.

Michael Polanyi. The Tacit Dimension. NY: Doubleday & Co., 1966, p. 66