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Break Up Big Econ - The Atlantic

theatlantic.com · 1,356 words · saved by 1 readers

The economics profession has become insular and status-obsessed, and not focused enough on making a positive impact on the world. Produced by ElevenLabs and News Over Audio (NOA) using AI narration. Economists generally agree that competition is good, and that markets with only a few dominant players are inefficient. We may need to take a hard look in the mirror. According to a new working paper, the recipients of major economics prizes, including the Nobel, have collectively spent half their career at just eight universities: Harvard (where I teach), Yale, Princeton, Stanford, MIT, the University of Chicago, Columbia, and Berkeley. Award-winning scientists in fields such as chemistry, engineering, and medicine, by contrast, represent a much more diverse range of institutions. By applying a metric commonly used in antitrust cases, the authors—the economists Richard B. Freeman, Danxia Xie, Hanzhe Zhang, and Hanzhang Zhou—showed that Nobel Prizes in economics are nearly five times more c

Listen − 1.0 x + Seek 0:00 9:19 Economists generally agree that competition is good, and that markets with only a few dominant players are inefficient. We may need to take a hard look in the mirror. According to a new working paper , the recipients of major economics prizes, including the Nobel, have collectively spent half their career at just eight universities: Harvard (where I teach), Yale, Princeton, Stanford, MIT, the University of Chicago, Columbia, and Berkeley. Award-winning scientists in fields such as chemistry, engineering, and medicine, by contrast, represent a much more diverse r

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