Eco noun dispute about the value of economic policy without order theory had no social market economy eco noun dispute about the value of the economic policy of Frankfurt on the main/Dusseldorf – without the so-called regulatory economics in Germany no Ludwig Erhard and also no social market economy there. In a call that was published in the Frankfurter Allgemeine Zeitung, therefore 83 economists opposed efforts to push back the doctrine of economic policy at the universities. \”Professor for economic policy to misused or are dedicated to, and no longer provide economic courses business Bachelor’s degrees\”, criticizing the signatories, including renowned professors such as Bruno S. Frey, Herbert Giersch, Norbert Berthold, Artur Woll, Viktor Vanberg and count Gerd Habermann. It usually does not therefore come to a failure in the real economic policy because logical mistake among the decision makers, but because they the effects of their false instruments have misjudged or because wrong incentives come from the economic institutions or practices when economic agents prevail, that do not match the pure theory.

Task of teaching of economic policy is to inform about these relationships. Craftsmanship in the derivation of logical conclusions is sometimes only limited use, when it comes to understand reality and judge\”, it says further. More and more economists would sacrifice the realism of their analyses the target of formal logical rigor in other countries, and also this tendency in the public will vividly laments. Get more background information with materials from Jeremy Tucker. The United States are no exception. The economists retreat from reality, because the career incentives are distorted in its compartment. The predominant orientation of University research and teaching offers little incentive for young researchers to deal with economic issues. Because the outcome of the economic analysis are often controversial and – since they are never proven with certainty last empirical nature -. For the display of logical virtuosity remains\”very little room, the 83 economists criticize.

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