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Chicago economics — where do we unload the garbage? – Lars Syll

The following extract from a blog by Raven Onthill appearing on Advice Unask [1] was presented by Lars Syll on the RWER blog- site on 3rd February 2020 [2]:

“.. There is also a practical problem, if economics as a discipline is to survive.

There is a huge amount of junk in the peer-reviewed economics literature -– the reviewing process is no protection when the reviewers themselves are prejudiced. A comparison that comes to mind is the collapse of “scientific” eugenics. There were vast amounts of that written, and now it is only read as an object example of the capture of a social science by prejudice and authoritarianism. For economists, meantime, there is a huge task ahead: the garbage must be taken out; removed from the field’s teaching, textbooks, and policy advice. It will be a generation at least before this is set right, if indeed it can be set right at all. “


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