Saturday, January 1, 2011

A Code of Ethics for Economists?

Business Week has a short article on the AEA considering a code of ethics for economists. Given a profession that seeks to create incentives optimally, it seems (as an economist) that this is the wrong track to take. Rather, make economists who have a financial interest in the topics they are discussing to be bonded (like someone who does sidewalk repair), thus there are prices to provide the incentives correctly.

I do not know if this is the correct path, but it seems a more economic path than to state allegiance to a code, and atleast it would mean that the profession would be acting in a manner more consistent with economic principles.

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