Lightman wrote:Economists should also learn physics because the world is governed by physics.
Also biology because human biological agents carry out economic decisions.
Also neuroscience and psychology because these offer understandings of actual human behavior. Throw in some Philosophy of Mind there for good measure.
Yes, the polymath ideal is attractive but isn't practical for the general academic population (not to knock indisciplinarian studies at all - but bear in mind that most indisciplinarians are limited in knowledge to two, maybe three fields). Division of intellectual labor is as necessary as any other division of labor. Yes, it is good to have a wide range of knowledge, and every intellectual should have a certain base of quasi-common knowledge.
I think that economists are commonly the subject of caricature for a couple of reasons. One - non-economist critiques of economists are usually written by people who have taken intro courses and take their over-simplification to be the standard economist party line. Two - legitimate criticism of the idea of homo economicus, without understanding that, yes, economists generally understand that it's only an approximate tool, and have in fact incorporated critiques of the concept through the advent of behavioral economics. Three - the libertarian meme that economics consists of a battle between Keynes and Hayek. Essentially no mainstream economists holds to unadulterated Keynesianism. Also, really no mainstream economists adhere to Austrianism. Nor does Keynesianism vs. Austrianism map so easily to the left-right dichotomy. Four - the French meme of "economic autism." Five - a belief that economists have more influence over policy decisions than they actually do. Etc., etc.
Note: I am not an economist (philosophy/English student).
This would be a much more convincing argument if economics were an actual freaking empirical discipline, or barring that, they would
at least stop making policy prescriptions based on mathematical models not required to withstand real-world testing. Jeez, even
psychology, for chrissakes, is expected to do experiments. If experimental verification is not possible, okay. Just revert to political economy and make economics a subset of history. Political economy is a perfectly honorable discipline - you are not pulling the wool over anyone's eyes. Any economic calculation that involves more than a bit of addition and subtraction is most likely bogus - at least until the economic community is willing to submit its models to the same discipline as the rest of the scientific community. Simply put, they must make testable predictions in the real world over a variety of economic conditions and timescales.
What is missing from economics is even the most elementary recognition that
it does not study objective phenomena at all. What economics does study is a virtual construct of human society. Its rules, laws, and operations are all human creations and serve human purposes. They are in no sense whatsoever equivalent to observations of the dynamics of physical bodies...nor the observations of biology, astronomy, or evolution. In a very real sense, economics cannot ever be an empirical science, just as literary criticism cannot be an empirical science. Both of these disciplines study creations of the human mind. Now, there is nothing wrong with literary criticism, but then literary criticism is not commonly employed as a justification for labor flexibility, is it?
Economics, as a discipline, has been weaponized. In its current incarnation it can do little other than serve as an adjunct to the class war being waged against the most vulnerable. Those economists who have resisted this co-optation have my deepest respect. You can find many of them among Sanders list of supporting economists.
My position is that mainstream economics as currently practiced is a dangerous fraud, and that is intentionally being used to hurt people on a mass scale. If this offends anyone, so be it.
The old world is dying, and the new world struggles to be born: now is the time of monsters. -Antonio Gramsci