IDEAS home Printed from https://ideas.repec.org/a/pal/buseco/v57y2022i4d10.1057_s11369-022-00289-w.html
   My bibliography  Save this article

Why I am proud to be an economist

Author

Listed:
  • David Altig

Abstract

In this essay I argue that the economic way of thinking offers a fundamentally generous, inclusive, and optimistic view of the world. Interpreting the behavior of individuals as resulting from constraints rather than preferences promotes a generous view of the decisions made by others. The idea of comparative advantage is inclusive in its observation that every human being has value and something unique to contribute to the whole of society. And the economic efficiency conditions associated with competitive equilibrium—the mathematical expression of Adam Smith’s invisible hand—offers a profoundly optimistic view of the human condition in that it implies the right institutions can deliver a more perfect world, even with imperfect people.

Suggested Citation

  • David Altig, 2022. "Why I am proud to be an economist," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 57(4), pages 169-173, October.
  • Handle: RePEc:pal:buseco:v:57:y:2022:i:4:d:10.1057_s11369-022-00289-w
    DOI: 10.1057/s11369-022-00289-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s11369-022-00289-w
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1057/s11369-022-00289-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Thunström, Linda & Nordström, Jonas & Shogren, Jason F., 2015. "Certainty and overconfidence in future preferences for food," Journal of Economic Psychology, Elsevier, vol. 51(C), pages 101-113.
    2. Carl Christian von Weizsäcker, 2011. "Homo Oeconomicus Adaptivus – Die Logik des Handelns bei veränderlichen Präferenzen," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2011_10, Max Planck Institute for Research on Collective Goods.
    3. Kanazawa, Satoshi, 2005. "Is "discrimination" necessary to explain the sex gap in earnings?," Journal of Economic Psychology, Elsevier, vol. 26(2), pages 269-287, April.
    4. Dhaval M. Dave, 2013. "Effects of Pharmaceutical Promotion: A Review and Assessment," NBER Working Papers 18830, National Bureau of Economic Research, Inc.
    5. Steven N. Durlauf, 1996. "Statistical Mechanics Approaches to Socioeconomic Behavior," NBER Technical Working Papers 0203, National Bureau of Economic Research, Inc.
    6. Manolis Galenianos & Rosalie Liccardo Pacula & Nicola Persico, 2012. "A Search-Theoretic Model of the Retail Market for Illicit Drugs," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 79(3), pages 1239-1269.
    7. Gordon Burt, 1997. "Cultural Convergence in Historical Cultural Space-Time," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 21(4), pages 291-305, December.
    8. Ole Røgeberg & Morten Nordberg, 2005. "A defence of absurd theories in economics," Journal of Economic Methodology, Taylor & Francis Journals, vol. 12(4), pages 543-562.
    9. Meier, Stephan & Sprenger, Charles, 2010. "Stability of Time Preferences," IZA Discussion Papers 4756, Institute of Labor Economics (IZA).
    10. Philippe Jehiel & Andrew Lilico, 2010. "Smoking Today and Stopping Tomorrow: a Limited Foresight Perspective," CESifo Economic Studies, CESifo Group, vol. 56(2), pages 141-164, June.
    11. Gaenssle Sophia & Budzinski Oliver & Astakhova Daria, 2018. "Conquering the Box Office: Factors Influencing Success of International Movies in Russia," Review of Network Economics, De Gruyter, vol. 17(4), pages 245-266, December.
    12. Vanberg Viktor J., 2014. "Evolving Preferences and Welfare Economics: The Perspective of Constitutional Political Economy," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 328-349, April.
    13. Tomer, John F., 1996. "Good habits and bad habits: A new age socio-economic model of preference formation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 25(6), pages 619-638.
    14. Stern, David I., 1997. "Limits to substitution and irreversibility in production and consumption: A neoclassical interpretation of ecological economics," Ecological Economics, Elsevier, vol. 21(3), pages 197-215, June.
    15. Victor Fernandez-Blanco & Juan Prieto-Rodriguez & Javier Suarez-Pandiello, 2015. "A quantitative analysis of reading habits," ACEI Working Paper Series AWP-05-2015, Association for Cultural Economics International, revised May 2015.
    16. Kesavan, T. & Jensen, H. H. & Johnson, S. R., 1987. "Advertising Information and Consumer Demand: The Case of Agricultural Commodity Promotion," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 269901, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    17. Drugeon, Jean-Pierre & Wigniolle, Bertrand, 2007. "On time preference, rational addiction and utility satiation," Journal of Mathematical Economics, Elsevier, vol. 43(3-4), pages 249-286, April.
    18. Budzinski, Oliver & Kohlschreiber, Marie & Kuchinke, Björn & Pannicke, Julia, 2019. "Does music quality matter for audience voters in a music contest?," Ilmenau Economics Discussion Papers 122, Ilmenau University of Technology, Institute of Economics.
    19. Carmona, Salvador, 1998. "Vogues in management accounting research," DEE - Working Papers. Business Economics. WB 6545, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    20. Heathcote, Jonathan & Perri, Fabrizio, 2014. "Assessing International Efficiency," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 523-584, Elsevier.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:buseco:v:57:y:2022:i:4:d:10.1057_s11369-022-00289-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.