In past years our approach to economics has undergone change. Up to the 1970s economic policy was dominant, which was also understood by advisors outside of universities. Its weakness was its often frightening lack of theory. Then the mathematisation of economics hit Germany’s shores and took over entire university faculties. The discipline of economic policy was pushed aside. In the meantime many economics graduates are largely unable to work with concepts such as Ordnungspolitik – the framework conditions set by the state to preserve, adjust and improve the economic order. The current methodological debate that began with an appeal in the Frankfurter Allgemeine Zeitung and in Handelsblatt is useful as it helps us adjust our approach to doing economics. The two appeals contain good ideas that both sides should mutually take into consideration. What the discussion ignores, however, is the institutional knowledge that was once the strength of the German historical school. Economic findings are often only possible after studying historical events and the underlying legal mechanisms. To be taken seriously, economics must be a balance of theory, econometrics and knowledge of institutions in order to provide policymakers and the public with well-founded recommendations.
"Rettet die Wirtschaftspolitik an den Universitäten!" FAZ.net, 05. Mai 2009 FAZ.net
"Baut die deutsche VWL nach internationalen Standards um!" Handelsblatt, 08 Jun 2009 handelsblatt.de
Was ist und was kann Ordnungspolitik? by Nils Goldschmidt, Gerhard Wegner, Michael Wohlgemuth and Joachim Zweynert, faz.net
Der Rückzug ins nationale Schneckenhaus by Gebhard Kirchgässner, faz.net
„Ökonomen-Einfluss auf Politik wird zunehmen“ by Hans Christian Müller, faz.net
Quo vadis, Ökonomik? by Christoph M. Schmidt and Nils aus dem Moore, faz.net
Schadet es, wenn Ökonomen rechnen können? by Thomas P. Gehrig, faz.net
Die Ökonomik ist keine zweite Physik by Viktor Vanberg, faz.net
The Discussion Forum contains reactions that Hans-Werner Sinn has received in connection with his books, his newspaper articles and television appearances. Read the letters and add to the discussion. Discussion Forum: "Methodological Debate in Economics"
Prof. Dr. Werner Hildenbrand, 23. Juni 2009, per E-Mail Discussion contribution
Bert Rürup, 23. Juni 2009, per E-Mail Discussion contribution
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Forum Methodological Debate in Economics
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