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On science and reform: the parable of the new economics, 1960s–1970s

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  • Roberto Romani

Abstract

The article considers Paul Samuelson, Robert Solow, James Tobin, Walter Heller, and Arthur Okun qua political economists. The focus is on their combination of a faith in economic science and a passionate public spirit. The article aims to substantiate two related arguments. The first is that these “new economists” were public intellectuals, regularly addressing public opinion, and engaging with the major economic and social issues of the times; the second is that their value judgements gained the upper hand over scientific discourse when they were confronted with the 1970s inflation.

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  • Roberto Romani, 2018. "On science and reform: the parable of the new economics, 1960s–1970s," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(2), pages 295-326, March.
    • Handle: RePEc:taf:eujhet:v:25:y:2018:i:2:p:295-326
    DOI: 10.1080/09672567.2018.1425469
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    Cited by:

    1. Aurélien Goutsmedt & Cléo Chassonnery-Zaïgouche, 2023. "Modeling intervention: The Political element in Barbara Bergmann's micro-to-macro simulation projects," Working Papers hal-04208686, HAL.
    2. Alexandre Chirat & Basile Clerc, 2023. "Convergence on inflation and divergence on price-control among Post-Keynesian pioneers: insights from Galbraith and Lerner," EconomiX Working Papers 2023-4, University of Paris Nanterre, EconomiX.
    3. Chassonnery-Zaïgouche, Cléo & Goutsmedt, Aurélien, 2023. "Symposium on Elisabeth Popp Berman’s Thinking Like an Economist. How Efficiency Replace Equality in U.S. Public Policy," SocArXiv bs9xd, Center for Open Science.
    4. Aurélien Goutsmedt, 2022. "How the Phillips Curve Shaped Full Employment Policy in the 1970s: The Debates on the Humphrey-Hawkins Act," Post-Print hal-03878346, HAL.

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