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From:
[log in to unmask] (Nuno Palma)
Date:
Fri Aug 8 08:10:48 2008
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  Facing extinction, different species react differently. Like I said
before, other fields suffered attempts to be put aside during the last 50
years and managed to survive. Development, economic history.

   Like ERW, I feel the urge to check back several times on my article,
failing to find where could I say something as amazing as that HET research
should move in a "laudatory" direction wrt mainstream economics. Knowing in
that article I even refer to Post-Keynesian economics explicitly as a
legitimate research program, I resist because I know what's going on.

  You are not listening.

  Historians of economics have a mental framework on what to say about
everything. The history of XXth century economics told by most historians of
economics would puzzle any mainstream economist wrt to the weight function
used in the choice of topics.

  There seems to be a ready answer to anything. Related to "schools" or
"revolutions".

  What happened with the responses to ERW's post was a case in point. NBER:
the pop-quiz answer is Burns and Mitchell, and how Milton Firedman's
Columbia-institutional background has been ignored, etc etc. But as ERW
recognizes correctly, that is NOT what is associated today with the NBER. It
was not what ERW had asked.

  btw, Walsh's book on say Paul Romer, is a more informative history of
endogenous growth theory that I have seen written by any historian of
economics.

 This could go on forever: LSE is Hayek and Robbins or the 1930's with luck
maybe Phillips (the obscure Cannan if not so lucky). For most mainstream
economists, it would be however -- time series structural econometrics, the
development of the matching function and related developments in
macro-labor, and more recently Kiyotaki-Moore's credit cycles, plus the use
of randomized experiments in development.

  The reason development and economic history have survived is that they
were able to communicate with the mainstream. They listen, thus they are
listened to. Fred Lee as many other HET types I've talked with, don't
listen. Some brag they haven't read the AER in 30 years. You are not
listening.

Nuno Palma

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