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The Present State of Economics: Errors and Omissions Excepted

  • Dirk H. Ehnts
  • Fritz Helmedag
Chapter

Abstract

More and more often, confidence in the professional qualifications of individuals representing certain occupational groups which formerly were held in high esteem has started to erode. Dismissing scientific evidence and ignoring expert opinion has become a feature of political discourse around alternative truth. In part this is self-inflicted as various statements that are publicized with the aura of academic certainty do not stand up to closer scrutiny. Alas, this applies particularly to economics, which is often held up as the supreme discipline of social sciences. It suffices to take a look on page one of reasonably respectable printed media to recognize how important economics is in contemporary society. In this chapter, we highlight some issues from micro- and macroeconomics that are critical.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Dirk H. Ehnts
    • 1
  • Fritz Helmedag
    • 1
  1. 1.Department of EconomicsChemnitz University of TechnologyChemnitzGermany

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