Economics without Entrepreneurship or Institutions: A Vocabulary Analysis of Graduate Textbooks
A teacherâ€™s words reflect the theory and methods he uses. Words reveal theoretical structures, the problems identified as relevant, and how those problems should be analyzed. I investigate whether entrepreneurship-rich and institutions-rich theories are represented in Ph.D. programs in economics. I analyze textbooks for the presence of terms that fall naturally into two sets. One set deals with the knowledge and discovery: entrepreneur, innovation, invention, tacit knowledge, and bounded rationality. The other deals with social rules: institutions, property rights, and economic freedom. When the words appear I examine the meaning. I examine the textbooks used in required courses in microeconomics, macroeconomics and industrial organization in all Ph.D. programs in economics in Sweden. The investigation is not specific to Sweden, however, because Ph.D. programs in Sweden are virtually identical to programs in the United States. The same textbooks are used, and nearly all of the textbooks examined are written by economists in the United States. I find that (i) all programs are in the tradition of â€œmainstreamâ€ economics; (ii) by and large, the eight expressions scarcely appear in the textbooks; and (iii) when they do appear, their meaning is diluted or distorted, compared to their meaning in theories where the idea is more central. In my judgment, the results constitute powerful evidence that todayâ€™s doctoral programs do not train young economists to identify and analyze important economic issues in a relevant way.
Volume (Year): 1 (2004)
Issue (Month): 3 (December)
|Contact details of provider:|| Postal: |
Phone: (703) 993-1151
Web page: http://econjwatch.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert E. Hall & Charles I. Jones, 1999.
"Why Do Some Countries Produce So Much More Output per Worker than Others?,"
NBER Working Papers
6564, National Bureau of Economic Research, Inc.
- Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
- Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1990.
"The Allocation of Talent: Implications for Growth,"
NBER Working Papers
3530, National Bureau of Economic Research, Inc.
- Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1990. "The Allocation of Talent: Implicationsfor Growth," University of Chicago - George G. Stigler Center for Study of Economy and State 65, Chicago - Center for Study of Economy and State.
- Henrekson, Magnus & Rosenberg, Nathan, 2000.
"Designing Efficient Institutions for Science-Based Entrepreneurship: Lessons from the US and Sweden,"
SSE/EFI Working Paper Series in Economics and Finance
410, Stockholm School of Economics.
- Henrekson, Magnus & Rosenberg, Nathan, 2001. " Designing Efficient Institutions for Science-Based Entrepreneurship: Lessons from the US and Sweden," The Journal of Technology Transfer, Springer, vol. 26(3), pages 207-31, June.
- Robert J. Barro & Paul M. Romer, 1991.
National Bureau of Economic Research, Inc, number barr91-1, May.
- Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
- Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, June.
- Christopher A. Pissarides, 2000. "Equilibrium Unemployment Theory, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262161877, June.
- Anne D. Boschini & Matthew J. Lindquist & Jan Pettersson & Jesper Roine, 2004.
"Learning to Lose a Leg: Casualties of PhD Economics Training in Stockholm,"
Econ Journal Watch,
Econ Journal Watch, vol. 1(2), pages 369-379, August.
- Boschini, Anne & Lindquist, Matthew & Pettersson, Jan & Roine, Jesper, 2004. "The Incentives of Future Economists - Striking a Balance between Tools and Relevance," SSE/EFI Working Paper Series in Economics and Finance 550, Stockholm School of Economics.
- Pavel Pelikan, 1993. "Ownership of firms and efficiency: The competence argument," Constitutional Political Economy, Springer, vol. 4(3), pages 349-392, September.
- Daron Acemoglu & Simon Johnson & James A. Robinson, 2000.
"The Colonial Origins of Comparative Development: An Empirical Investigation,"
NBER Working Papers
7771, National Bureau of Economic Research, Inc.
- Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
- repec:cup:cbooks:9780521314275 is not listed on IDEAS
- Tollison, Robert D, 1982. "Rent Seeking: A Survey," Kyklos, Wiley Blackwell, vol. 35(4), pages 575-602.
- Bhagwati, Jagdish N, 1982. "Directly Unproductive, Profit-seeking (DUP) Activities," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 988-1002, October.
- Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, June.
- Daron Acemoglu & Simon Johnson & James Robinson, 2004.
"Institutions As The Fundamental Cause Of Long-Run Growth,"
002889, UNIVERSIDAD DE LOS ANDES-CEDE.
- Daron Acemoglu & Simon Johnson & James Robinson, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," NBER Working Papers 10481, National Bureau of Economic Research, Inc.
- Acemoglu, Daron & Johnson, Simon & Robinson, James A, 2004. "Institutions as the Fundamental Cause of Long-Run Growth," CEPR Discussion Papers 4458, C.E.P.R. Discussion Papers.
- Robert J. Barro, 2013.
"Inflation and Economic Growth,"
Annals of Economics and Finance,
Society for AEF, vol. 14(1), pages 121-144, May.
- Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, March.
When requesting a correction, please mention this item's handle: RePEc:ejw:journl:v:1:y:2004:i:3:p:515-538. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jason Briggeman)The email address of this maintainer does not seem to be valid anymore. Please ask Jason Briggeman to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.