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The Ph.D. Circle in Academic Economics

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  • Daniel B. Klein

Abstract

Adam Smith doubted an invisible hand in academia, saying that academia was prone to clubbish foolishness. From economics-department webpages, I collected data on Ph.D. origination of economics faculty. Using a ranking of 200 economics departments world-wide, I find that at the top departments 80-90 percent of faculty got their PhD at a top-35 department. The set of top-35 departments draws 76 percent of faculty from itself. The top-35 dominate the entire profession. Economics is more a monocentric cultural pyramid than a polycentric market.

Suggested Citation

  • Daniel B. Klein, 2005. "The Ph.D. Circle in Academic Economics," Econ Journal Watch, Econ Journal Watch, vol. 2(1), pages 133-148, April.
    • Handle: RePEc:ejw:journl:v:2:y:2005:i:1:p:133-148
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    Cited by:

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    2. Daniel Sutter, 2009. "The Market, the Firm, and the Economics Profession," American Journal of Economics and Sociology, Wiley Blackwell, vol. 68(5), pages 1041-1061, November.
    3. Daniel Sutter & Rex Pjesky, 2007. "Where Would Adam Smith Publish Today? The Near Absence of Math-free Research in Top Journals," Econ Journal Watch, Econ Journal Watch, vol. 4(2), pages 230-240, May.
    4. Edwards, John Richard & Dean, Graeme & Clarke, Frank & Wolnizer, Peter, 2013. "Accounting academic elites: The tale of ARIA," Accounting, Organizations and Society, Elsevier, vol. 38(5), pages 365-381.
    5. Emily C. Skarbek, 2010. "From Promiscuity to Commitment: Peter Boettke's Approach to Mentoring "Mainline" Economists," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 26(Fall 2010), pages 143-152.
    6. Todd R. Jones & Arielle A. Sloan, 2024. "The academic origins of economics faculty," The Journal of Economic Education, Taylor & Francis Journals, vol. 55(4), pages 434-454, October.
    7. Rex J. Pjesky & Daniel Sutter, 2011. "Does the Lack of a Profit Motive Affect Hiring in Academe? Evidence from the Market for Lawyers," American Journal of Economics and Sociology, Wiley Blackwell, vol. 70(4), pages 1053-1084, October.

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    More about this item

    Keywords

    Ph.D. origination; self-validation; academia; scholasticism; Adam Smith;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics

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