Why do economists so often give "policy advice" or make "policy recommendations" in their articles and books? The more I consider this longstanding practice, the more absurd it seems to be. Do they really believe that policy makers -- legislators, staffers, regulators, judges, and so forth -- want or value their advice? Do they really believe that policy makers are seeking information that will allow them to serve the "public interest" more effectively? Do they really believe that policy makers are not already seeking to do what promotes their own interests or are unclear about how they should wield the decision-making discretion they possess? If policy makers appear to, or actually do, seek the advice of economists, they can do so for only one reason that makes any sense: to create the appearance of striving to promote the public interest -- an appearance that aids them in attaining their own personal or ideological interests (e.g., by garnering them more votes in the next election). Economists must be the most naive intellectuals in the world if they sincerely believe that, apart from the appearance-creation just mentioned, policy makers either need or want their advice in order to do what they are actually trying to do. It makes more sense to suppose that economists understand this reality, but simply take advantage of the opportunity to feather their own nests -- via employment, research grants, and so forth -- by going through the motions of appearing to contribute something to the betterment of social welfare.
Posted on: Wed, 14 Aug 2013 22:53:56 +0000
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