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Eatwell, 1994. Social Research 61(2):35-53

Institutions, Efficiency, and the Theory of Economic Policy
John Eatwell

Social Research: An International Quarterly
Arien Mack, Editor

Volume 61, No. 2 (Summer 1994): 35:53

ABSTRACT: This article argues that economics consists of exercises designed solely to advance theoretical or econometric technique. If usefulness and efficiency are the objectives of the discipline, then the relative success of economics at any one time might reasonably be judged by how nearly economic goals are being met. When things are not going well, policy makers and opinion formers are always desperate for new ideas. They can be readily influenced by schemes which hold out the promise of working. Presented with coherent, practical, broadly supported, and convincing arguments, they are liable to accept them. The author argues that what is needed is a body of pure economic theory which in its very core is...
Stock number:SRJ-ART-612-0035 Price:$15.00

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