Chapter

The Economist’s Oath

George F. DeMartino

in The Economist’s Oath

Published in print January 2011 | ISBN: 9780199730568
Published online September 2011 | e-ISBN: 9780199896776 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199730568.003.0013
The Economist’s Oath

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Today there are signs of changing sentiments in the profession on the matter of professional economic ethics. Leading economists (including Joseph Stiglitz, Jeffery Sachs and others) have begun to discuss the conduct of the profession, and to call for substantive reform in economic practice. A few economic associations in the U.S. and elsewhere have also introduced ethical codes. Moreover, many economists (and others) are now interrogating the culpability of the profession in the current global crisis. All of this suggests that a serious engagement with professional economic ethics might be imminent. The book concludes with the Economist’s Oath that emphasizes the principles and insights that have emerged in the book’s discussion of professional economic ethics. It incorporates respect for autonomy, the prudential principle, humility, open-mindedness and other virtues that are required of the economist and the economics profession.

Keywords: Joseph Stiglitz; Jeffrey Sachs; National Association of Forensic Economists; Association for Integrity and Responsible Leadership in Economics and Associated Professions; Economist’s Oath

Chapter.  2884 words. 

Subjects: Public Economics

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