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2021-11-12

There are two types of extraordinary economists

The first type includes pioneers of the field such as David Ricardo, William Stanley Jevons, and, in our own time, Robert Lucas. They all aimed to economize knowledge in order to explain the largest possible amount of behavior with the smallest possible number of variables.

The second category, which includes Thorstein Veblen, John Maynard Keynes, and Albert O. Hirschman, sought to broaden economic knowledge in order to understand motives and norms of behavior excluded by mainstream analysis but important in real life.

Robert Skidelsky Project Syndicate 12 November 2021

https://www.project-syndicate.org/onpoint/veblen-keynes-hirschman-biographies-economics-outsiders-by-robert-skidelsky-2021-11


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