Premium
ARE ECONOMISTS ‘MARKET FUNDAMENTALISTS’?
Author(s) -
Carden Art,
Hammock Mike
Publication year - 2009
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2009.01957.x
Subject(s) - economics , affect (linguistics) , positive economics , wage , mythology , neoclassical economics , rational expectations , keynesian economics , microeconomics , public economics , labour economics , sociology , philosophy , theology , communication
We summarise Bryan Caplan's defence of economists from The Myth of the Rational Voter , in which he argues that economists undersell the benefits of markets. We also elaborate on his conclusions and discuss applications to specific topics, such as the minimum wage, as well as how Caplan's results might affect the way economics courses are taught.