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Bias in Economics Textbooks [Updated]

April 25, 2016 Leave a comment

I recently saw a local newspaper article discussing the selection of economics textbooks to be used in teaching economics to high school students in my local school district. A school board member expressed some concerns that a text might be chosen that could reflect the political or other biases of the text authors. As an economist, I (unsurprisingly) endorse teaching economics to high school students but I am well aware that many economists express opinions about economic policy and other economics issues that do not reflect solid economic analysis. Rather their statements reflect their political or other biases.  And so I decided to pursue an example of possible bias recently discussed in a journal devoted to economic analysis.

Richard Vedder is Emeritus Professor of Economics at Ohio University and he recently wrote an article in the Winter 2016 issue of the Cato Journal on the state of academic economics. One matter that he discusses there is the accuracy or possible bias of economics texts and he provides what to me is a stunning example of misinformation in an economics text. I checked Professor Vedder’s example and it is indeed entirely accurate.

In Principles of Economics, 12th Edition (1985), written by the late Paul A. Samuelson and William D. Nordhaus, there is a discussion of the Soviet Union. Consider the following statement (Samuelson and Nordhaus, p. 775) about economic growth in the Soviet Union.

…there can be no doubt that the Soviet planning system has been a powerful engine for economic growth.

The Soviet Union collapsed in 1991 just six years after this statement was published! Does it seem reasonable to you, dear reader, that a country that is a growth engine of such magnitude would break apart a short time later? How can we explain this astonishing statement? How could these economists be wrong? Read more…

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