Tragic science: how economists cause harm (even as they aspire to do good)
- Chicago: The University of Chicago Press, 2022.
- xi, 265p.; hbk; 24cm.
Includes notes, illustrations, index and references
The practice of economics, as economists will tell you, is a powerful force for good. Economists are the guardians of the world’s economies and financial systems. The applications of economic theory can alleviate poverty, reduce disease, and promote sustainability. While this narrative has been successfully propagated by economists, it belies a more challenging truth: economic interventions, including those economists deem successful, also cause harm. Sometimes the harm is manageable and short-lived. But just as often the harm is deep, enduring, and even irreparable. And too often the harm falls on those least able to survive it.