Why Do Economists Disagree?

Why Do Economists Disagree?

Saturday, October 13th
2:30 - 4:30PM

Past Event

A pre-election roundtable of a politically diverse group of noted economic theorists exploring their philosophical convergences and divergences.

Free and open to the public.


Graciela Chichilnisky

Professor of Economics, Columbia University

Dr. Graciela Chichilnisky (www.chichilnisky.com) is a professor of Economics and Mathematical Statistics and a University Senator at Columbia University in New York, where she is the Director of the Columbia Consortium for Risk Management (CCRM). A world-renowned economist, she is the creator of the formal theory of Sustainable Development and acted as Lead US Author… read more »

Robert H. Frank

Henrietta Johnson Louis Professor of Management and Professor of Economics, Cornell University

Robert H. Frank is the Henrietta Johnson Louis Professor of Management and Professor of Economics at Cornell’s Johnson Graduate School of Management and the co-director of the Paduano Seminar in business ethics at NYU’s Stern School of Business. His Economic View column appears monthly in The New York Times. He is a Distinguished Senior Fellow at Demos. He received… read more »

Jeffrey Miron

Senior Lecturer and Director of Undergraduate Studies, Department of Economics, Harvard University

Jeffrey Miron is Senior Lecturer and Director of Undergraduate Studies in the Department of Economics at Harvard University and a Senior Fellow at the Cato Institute. Dr. Miron has previously served on the faculties of the University of Michigan and Boston University; at the latter, he was Department chairman for six years. He has been the… read more »

Joseph Salerno

Professor of Economics, Lubin School of Business, Pace University

Joseph T. Salerno received his Ph.D. in economics from Rutgers University, New Brunswick, New Jersey. He is a professor of economics in the Finance and Graduate Economics Department in the Lubin School of Business of Pace University in New York. He is the editor of theQuarterly Journal of Austrian Economics and the Academic Vice President of the… read more »

One comment on “Why Do Economists Disagree?

  1. As Jeffrey Miron said at “Why Do Economists Disagree?”,
    because economists cannot do repeatable and controlled
    experiments, there is a problem knowing which economists
    and models are right and which are wrong.

    Might there be an alternative way to evaluate economists?
    Applying the old maxim “if you’re so smart why aren’t you rich”,
    no matter what policies are put in place, an economist should
    be able to place a bet (in a real or simulated market) that
    will make (or lose) money if they can predict the consequences
    of that policy.

    For example, if one can predict the change in interest rates
    due to a particular policy, they can buy or sell US treasury
    notes and make (or lose) money either way. Or if they think
    a monetary policy will lead to inflation (or deflation) they
    can make bets that will benefit by that. After a decade or
    so we would know which economist is right by who has the
    most money (real or simulated).

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