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CREATING HUMBLE ECONOMISTS: A Code of Ethics for Economists

Essays on the Art and Craft of Economics

David Colander

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THE DEATH OF NEOCLASSICAL ECONOMICS

Essays on the Art and Craft of Economics

David Colander

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David Colander

This paper argues that the DSGE approach to macroeconometrics is the dominant approach because it meets the institutional needs of the replicator dynamics of the profession, not because it is necessarily the best way to do macroeconometrics. It further argues that this “DSGE theory-first” approach is inconsistent with the historical approach that economists have advocated in the past and that the alternative European CVAR approach is much more consistent with economist’s historically used methodology, correctly understood.

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Huei-Chun Su and David Colander

This paper considers the debate between economists and philosophers about the role of values in economic analysis by examining the recent debate between Hilary Putnam and Sir Partha Dasgupta. It argues that although there has been a failure to communicate there is much more agreement than it seems.

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Framing the Economic Policy Debate

Essays on the Art and Craft of Economics

David Colander

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How Economics Should Be Done

Essays on the Art and Craft of Economics

David C. Colander and Huei-Chun Su

David Colander has been writing about economic methodology for over 30 years, but he goes out of his way to emphasize that he does not see himself as a methodologist. His pragmatic methodology is applicable to what economists are doing and attempts to answer questions that all economists face as they go about their work. The articles collected in this volume are divided, with the first part providing a framework underlying Colander’s methodology and introducing Colander’s methodology for economic policy within that framework. Part two presents Colander’s view on the methodology for microeconomics, while part three looks at Colander’s methodology for macroeconomics. The book closes with discussions of broader issues.
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HOW ECONOMISTS GOT IT WRONG: A NUANCED ACCOUNT

Essays on the Art and Craft of Economics

David Colander

In the wake of the financial crisis of 2008, many economists have blamed economics for having failed to warn us. Paul Krugman, for example, in a well-known New York Times Magazine article, suggests that Classical economists were blinded by the beauty of mathematics, and that Keynesian economics is the path of the future. This paper argues that the evolution of economic thinking is much more nuanced than Krugman portrays it, and that instead of embracing what has become known as Keynesian economics, macroeconomists should rather re-embrace the broader Classical economic tradition, of which Keynes was an important part.

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Introduction

Essays on the Art and Craft of Economics

Huei-chun Su

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List of Book Reviews

Essays on the Art and Craft of Economics

David C. Colander and Huei-Chun Su

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THE MACROFOUNDATIONS OF MICRO

Essays on the Art and Craft of Economics

David C. Colander