Economists as Worldly Philosophers

Robert J. Shiller () and Virginia M. Shiller ()
Additional contact information
Robert J. Shiller: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/robert-shiller
Virginia M. Shiller: Child Study Center, Yale University

No 1788, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: While leading figures in the early history of economics conceived of it as inseparable from philosophy and other humanities, there has been movement, especially in recent decades, towards its becoming an essentially technical field with narrowly specialized areas of inquiry. Certainly, specialization has allowed for great progress in economic science. However, recent events surrounding the financial crisis support the arguments of some that economics needs to develop forums for interdisciplinary interaction and to aspire to broader vision.

Keywords: Economic methodology; Specialization; Behavioral economics; Psychology; Rational expectations; Economics as a moral science; Pareto criterion; Interdisciplinary; Journal of Economic Perspectives (search for similar items in EconPapers)
JEL-codes: B4 B41 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2011-03
New Economics Papers: this item is included in nep-cbe, nep-his, nep-hme, nep-hpe and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

Published in American Economic Review, Papers and Proceedings (May 2011), 101(3): 171-175

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