economic science and practice

The Roles of Academic Economists and Policy-makers

Edited by Peter A.G. van Bergeijk, Professor of International Economics and Macroeconomics, international Institute of Social Studies, Erasmus University, The Hague, The Netherlands, A. Lans Bovenberg, Research Professor, CentER for Economic Research, Tilburg University and Research Professor, Research Center for Economic Policy (OCfEB), Erasmus University Rotterdam, The Netherlands, Eric E.C. van Damme, Center for Economic Research, Tilburg University, The Netherlands and Jarig van Sinderen, Professor of Economic Policy, Erasmus School of Economics, Erasmus University, the Netherlands

Economic Science and Practice seeks to bridge the gulf between economic theory and policy and overcome some of the problems created by the specialized nature of much economic research. A distinguished group of academic economists and experienced policy makers from both Europe and the United States sheds new light on the relation between theory and practice and reflect on the current state of economics.

‘This book is the latest contribution to the “state of economics” literature. It approaches this through asking about the usefulness of academic economics for policymaking. This turns out to be a fruitful approach. . . these papers are useful – all offer much food for thought and are well worth reading. . . . the book is very readable, full of ideas, and well worth studying. Any student who is entering economics in the hope of contributing to debates over economics policy would be well advised to read it.’
– Roger E. Backhouse, The Manchester School

‘Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.’
– J.M. Keynes, The General Theory of Employment, Interest and Money, 1936