What Do Economists Contribute?

1. Front Matter

   Pages i-xiv

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2. Introduction: What Do Economists Contribute?

   • Daniel B. Klein

   Pages 1-26

3. On the Role of Values in the Work of Economists

   • Frank D. Graham

   Pages 27-32

4. Economists and Public Policy

   • Ronald H. Coase

   Pages 33-52

5. On the Decline of Authority of Economists

   • William H. Hutt

   Pages 53-68

6. ‘Realism’ in Policy Espousal

   • Clarence Philbrook

   Pages 69-86

7. How To Do Well While Doing Good!

   • Gordon Tullock

   Pages 87-103

8. The Common Weal and Economic Stories

   • D. N. Mccloskey

   Pages 105-118

9. What Do Economists Know?

   • Thomas C. Schelling

   Pages 119-124

10. Economists and the Correction of Error

    • Israel M. Kirzner

    Pages 125-131

11. On Being an Economist

    • Friedrich A. Hayek

    Pages 133-149

12. Back Matter

    Pages 151-157

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The title of this book raises a provocative question that should make all economists think. What is our raison d'etre ? Only a few economists have specifically addressed the issue. Several of the more challenging efforts are included here. Do economists have much influence on government policy, particularly over, say, five or ten years? Is that because they don't try hard enough or is it because politicians care more about the next election than about the opinion of economists? In this splendid collection, some published as long ago as the 1930s, nine great economists consider these questions. The editor's illuminating introduction sorts out the area of agreement and disagreement between them.

• care
• government policy
• public policy
• science and technology

Pre-publication endorsements of hardcover

'The title of this book raises a provocative question that should make all economists think. What is our raison d'etre? Only a few economists have specifically addressed the issue. Several of the more challenging efforts are included here.' - James M. Buchanan, Professor of Economics, George Mason University

'Do economists have much influence on government policy, particularly over, say, 5 or 10 years? Probably not. Is that because they don't try hard enough or is it because politicians care more about the next election than about the opinion of economists? In this splendid collection, some published as long ago as the 1930s, nine great economists consider these questions. The editor's illuminating introduction sorts out the area of agreement and disagreement between them.' - Mark Blaug, Visiting Professor of Economics, University of Exeter

Reviews of Hardback

'[The book] contains outstanding essays from nine great economists of this century....the result is lively, informative, engaging discourse ....[The book] is highly recommended reading for lay readers as well as students of economics, and has a great deal of substansive value for even experienced, practicing economists.' - Reviewer's Bookwatch

'In What Do Economists Contribute? the writers try to explain just how economists contribute to the betterment of mankind. Although the title implies that the book is directed to students and intelligent laymen who would otherwise not know the answer, the book is aimed just as much at professional economists themselves. All three groups, especially undergraduates contemplating study in economics, will be fascinated and perhaps troubled by what they read.' - Philip R.Murray, Ideas on Liberty

• Department of Economics, Santa Clara University, USA

  Daniel B. Klein

RONALD H. COASE Nobel Prize in Economic Science, 1991 FRANK D. GRAHAM (1890-1949) Professor of Economics at Princeton University until his death in 1949 FRIEDRICH A. HAYEK (1899-1992) Nobel Prize in Economic Science, 1974. Professor at LSE, 1931-49. Author of The Road to Serfdom WILLIAM H. HUTT (b.1899) Professor of Economics at Capetown University and Texas, A & M. Author of Economists and the Public ISRAEL M. KIRZNER (b.1930) Professor of Economics at New York University since 1957 DEIRDRE N. MCCLOSKEY (b.1942) Professor of Economics and of History at the University of Iowa CLARENCE PHILBROOK (1909-78) was Professor of Economics at the University of North Carolina (1947-1975) THOMAS C. SCHELLING (b.1921) Professor of Economics at the University of Maryland and previously at Harvard GORDON TULLOCK Professor of Economics at the University of Arizona; editor of Public Choice for 25 years

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