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How Should An Economist View The Society? - College Essay

How Should An Economist View The Society?


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How can the distinction between philosophers and scientists be made? In the article, “A Challenge to Scientific Economics”, Louis Uchitelle focuses on the question of how an economist should view the world. Should the economists be satisfied with the approximations of the real world or should their job be more than just numbers and facts?
According to Uchitelle, what made the early economists’ assumptions so effective was the fact that they were not only scientists, but also philosophers. They were interested in the before and after math of their results. Uchitelle compares the early and today’ economists’ point of view by quoting from important names like Robert L. Heilbroner, N. ...

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and the society’s long term benefits are squeezed out. Math and computers have taken over noneconomic motives and the changes in the forces of human nature haven’t taken into account in the process of developing the scientific data. Uchitelle supports Heilbroner’s ideas with the quotes from other early philosophers: Joseph A. Schumpeter and Keynes. On the other hand, the modern economists reject these observations. N. Gregory Mankiw emphasizes the importance of objectivity. He defends the idea that positive statements, scientifically verifiable details, can objectively give measurements without the normative statements, which reflect values and judgements. Uchitelle presents both sides arguments in such an order that the chronology suggests the strong support to the early economists. Although the fair representation helps to understand both sides clearly, the author mostly focuses on the early philosophers’ theories. For instance, he first starts with one of Paul Romer’ s experience ...

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How Should An Economist View The Society?. (2006, September 11). Retrieved July 15, 2024, from http://www.essayworld.com/essays/How-Should-An-Economist-View-Society/52215
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"How Should An Economist View The Society?." Essayworld.com. September 11, 2006. Accessed July 15, 2024. http://www.essayworld.com/essays/How-Should-An-Economist-View-Society/52215.
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PAPER DETAILS
Added: 9/11/2006 01:30:29 PM
Category: Economics
Type: Premium Paper
Words: 517
Pages: 2

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