Political Economy in Economic Policy Advice

  • Helmut Kramer
Chapter

Abstract

To commence with my part in the proceedings, I will attempt to find some conciliatory ground between the opinions expressed by Gebhard Kirchgässner and Wolfgang Franz with regard to the competency of economists in economic policy advisory activities. Whereas Gebhard Kirchgässner, with considerable justification, points at the questionable theoretical approaches used by standard economics and their similarly questionable underpinnings in scientific theory, I still feel that Wolfgang Franz is similarly justified in emphasising that we do have economic insights which are — to a greater or lesser extent — shared by a majority of economists. By themselves, both comments say little on the political relevance of such insights, and this is the subject I want to discuss.

Keywords

Economic Policy Trade Policy Political Relevance Complex Bundle Homo Oeconomicus 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Baldwin, R.E., “The Political Economy of Trade Policy”, Journal of Economic Perspectives, 1989, 3(4)Google Scholar
  2. Blinder, A.S. Hard Heads, Soft Hearts, Reading, MA., 1987, p. 1.Google Scholar
  3. Dixit, A.K., The Making of Economic Policy. Munich Lectures in EconomicsGoogle Scholar
  4. Cambridge, MA, 1996. Drazen, A., Political Economy in Macroeconomics, Princeton, 2000, p. 5.Google Scholar
  5. Hamilton, L.H., “Economists as Economic Policy Advisers”, Journal of Economic Perspectives, 1992, 6 (3), pp. 61–64.CrossRefGoogle Scholar
  6. Persson, T., Tabellini, G., Political Economics. Explaning Economic Policy. M.I.T., Cambridge, MA, 2000.Google Scholar

Copyright information

© Springer Science+Business Media New York 2003

Authors and Affiliations

  • Helmut Kramer

There are no affiliations available

Personalised recommendations