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Groovy Economics!
24th February 2008
According to this piece by in the New York Times, economics is groovy once more.
‘Over the last decade, economics has begun to get its groove back. Armed with newly powerful tools for analyzing data, economists have dug into real-world matters and tried to understand human behavior. Economists have again become storytellers, and, again, they matter.’
The article flags up the work of the Jameel Poverty Action Lab at M.I.T., led by Esther Duflo and Abhijit Banerjee who are said to ‘have a simple, if radical, goal. They want to overhaul development aid so that more of it is spent on programs that actually make a difference. And they are trying to do so in a way that skirts the long-running ideological debate between aid groups and their critics.’
A positive article on economic ideas and how they have the potential to improve huge numbers of lives. David Leonhardt’s column on economics and business, Economic Scene, appears on Wednesday in The New York Times
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.