Much of the so-called theoretical advances in the social sciences appear to be limited to inventions of pithy terms for old (reinvented) ideas. Ignorance of the history of ideas drives this. I do not doubt many of these scholars believe they have discovered something new. In some
sense they have, because they are unaware of their ignorance that others have expressed similar, sometimes even the same, ideas before them. For example, Stinchcombe (1965) is credited with the "liability of newness" idea, which is very similar to Schumpeter's ([1911] 1934)
discussion (pp. 86-87) on people's "resistance" to the new and, thus, the necessity that the entrepreneur takes on a leadership role. The issue here is not the claim of novelty, but that scholars should in fact be knowledgeable about the history of the field and its theoretical
development. In other lines of business one might claim ignorance as a defense, but a scholar cannot. This is especially the case if the ideas one introduces as novel were expressed by highly influential, if not well-known, thinkers. But it is no excuse even if the ideas were
expressed by a marginalized or never influential predecessor--it is only understandable that one might have missed presumed minor contributions. Much worse, however, is those who outright copy others and slap on new labels or invent a pithy, more modern terminology to sell the
ideas. A scholar gives credit where credit is due, and so recognizes those previous thinkers to the degree they deserve. Rediscovery of forgotten contributions is still a contribution, and scholars should be inspired by previous contributions. But pretending one has come up with
something new when this claim of novelty is actually untrue, is decidedly unscholarly. Some would argue that this is the case with Keynes's adoption and reformulation of Malthus's long debunked view of the primacy of demand (rather than supply) in the economy. As @StevenKates has
uncovered, Keynes developed core ideas in the General Theory (1936) upon reading the correspondence between friends and great economists Malthus and Ricardo. One can discuss whether Keynes properly cited the source. My point here is not to make accusations, but to indicate that
the history of thought is full of examples of scholars knowingly stealing the ideas of others and pretending they are newly developed. Such dishonesty appears to be rather common in scholarly journals lately. I've come across a number of examples, including by well regarded
scholars, where ideas were obviously, not probably, taken from older literature without proper recognition but, instead, presented as though they were new. In scholarship, this is nothing short of fraud--it is plagiarism. But the universal ignorance of the history of thought that
burdens modern scholarship, this is unlikely to be recognized. Instead, it is a shortcut to scholarly fame. These old ideas are often well thought out, if not ingenious, the result of decades of thought. This is why they were deemed fit to be published in expensive books: for the
future to see, learn from, and enjoy. They were not published to be forgotten and then lifted by someone who wants to make themselves known to their peers or increase their chances for salary increase. There are of course other, better, and more important arguments for being
knowledgeable about the history of ideas than the problem of scholarly dishonesty and unethical behavior. Knowledge of historical debates that shaped the field facilitates progress in the present because it helps us avoid reinventing good ideas that were already developed, but
perhaps unfairly forgotten or dismissed. Old ideas are stepping stones to better understanding of the world around us. The decline of economics is an obvious example of the value of knowing one's past. It is about time scholarly training again included reading the classics.
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“Lockdowns just have one consequence that you must never ever belittle, and that is making poor people an awful lot poorer.” Dr. Nabarro, WHO amp.news.com.au/world/coronavi…
Advanced #economics education is in a terrible, sorry state. What is taught is not actual economics, which used to be (and properly is) the economic way of thinking, but almost exclusively the practical how-to. The little economic reasoning there is, is usually taught only in
principles courses ("Econ101"), but starting from the intermediate level the economic way of thinking is swiftly replaced by pragmatic operationalizations of variables to facilitate statistical measurement and empirical testing. This becomes abundantly clear when discussing
economic matters with students (including here on Twitter). They typically cannot see a difference between the simplified operationalization of a concept and the actual concept. Why? Because they have never encountered the actual concept and what it represents. This is in fact
Economics is primarily a way of thinking about the world that uncovers the true mechanisms and processes behind, and helps us understand, what we can all observe. This is a forever thread collecting my #econthread tweets. #PerBylundthreads
Like all heavily regulated (protected) industries, #highered is ripe for disruption. But #startups have failed to challenge #universities because #entrepreneurs are, simply put, doing it wrong. They have focused on the wrong problem, trying to beat universities at their best, not
their worst. Higher ed does not actually have a teaching problem, despite what people may assume. The classroom method of teaching, or guided learning through instruction, has worked very well for centuries. There may be plenty of tweaks to make it more effective, less costly,
but disruption is not about tweaks or cost-cutting. Disruption is about rethinking how things are done. Universities, while perhaps lagging in adoption of online technologies and not doing enough to enthuse students in the classroom, do not have a delivery problem. Entrepreneurs
Revisiting #regulations. It's apparently difficult for people to distinguish between the rhetoric and the measure. A regulation is a restriction on something, not an improvement of something else. The other *can* be a result (one of many possibilities), but the result is not
actually caused by the regulation. So while regulating emissions of certain pollutants adds cost to emitting those pollutants, it does not clean the air. It *can* lead to better air, but it can also lead to emissions of other, less cost-effective pollutants. The regulation is
undoubtedly introduced with the intent of improving air quality, but it is not what the regulation *does*. What it does is only place a restriction on emitting the enumerated pollutants. The reason regulations typically are bad at bringing about the intended outcome, and very
Many seem to think it is "unfair" to say that #entrepreneurs who didn't foresee the #pandemic "should" lose their businesses, because it is an unforeseeable event. But this completely misses the point: *every* event is unforeseeable for entrepreneurs. When you invest your own
money, it's not simply about figuring out (or guessing) that something will happen, but also when it will happen and what it means specifically for your investment. It is also not about having foresight, but about exercising good and proper judgment about what might happen and
how to best respond to it. Their problems are less about "foreseeing a pandemic" than about expecting something to happen and thus refrain from irreversible investments that lock you in. Yes, there is luck involved. But only because the future is uncertain. Superior entrepreneurs