David Colander is Distinguished College Professor at Middlebury College. His many books include The Making of an Economist, Redux and Complexity and the Art of Public Policy (both Princeton). Craig Freedman is the author of Chicago Fundamentalism and In Search of the Two-Handed Economist.
"A heartfelt call for economics to return to its methodological
roots in scrupulously separating judgements about economic policy
from what can be known as a matter of scientific, empirical
evidence. If economists take the advice offered in this book, the
subject will become more humble, and humane, as it once used to
be."—Diane Coyle, Bennett Professor of Public Policy, University of
Cambridge
“Colander and Freedman’s wonderful book argues for a return to the
discussion tradition of classical liberalism in which one offers a
point of view, and recognizing one’s limitations, encourages other
points of view. This careful book is based on numerous interviews
with participants and opponents of the Chicago School from whom the
authors are able to examine and understand many issues.”—David M.
Levy, George Mason University
“George Stigler once joked that John Stuart Mill was the first
economist to treat his opponents’ arguments with full respect: `The
experiment,’ Stigler continued, `was never repeated.’ Colander and
Freedman wisely want to revive a Millean and classical liberalism
in method, a respectful one, which is under attack currently by
misled scientists and populists. This deep yet cheerful book
focuses on scientific rhetoric and shows that we’ll never
understand economic science or policy until we recognize the force
of language, in the economy and among economists.”—Deirdre
McCloskey, Distinguished Professor of Economics, History, English,
and Communication, University of Illinois at Chicago
“Colander and Freedman argue in this fascinating book that
economists began to go wrong when they tore down the firewall
between theory and policy—the first scientific and objective, the
second judgmental and subjective. Once they forgot that their
science does not, or rather cannot, produce clear and unambiguous
policy advice, all kinds of mischief followed. Drawing on the
history of economic thought as well as contemporary debate, the
authors provide an account that is as engaging as it is challenging
to professional economists.”—Dani Rodrik, author of Straight Talk
on Trade
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