Saturday, January 01, 2011
Do Economists Need a Code of Ethics?
By Dr. Mark J. Perry
From the New York Times:
"Academic economists, particularly those active in policy debates in Washington and Wall Street, are facing greater scrutiny of their outside activities these days. Faced with a run of criticism, including a popular movie, leaders of the American Economic Association, the world's largest professional society for economists, founded in 1885, are considering a step that most other professions took a long time ago adopting a code of ethical standards.
Should economists be required merely to disclose who finances their research, as many academic journals already require? Should they have to reveal which corporate clients they advise, consult for or give speeches to? Should they even be allowed to serve as corporate directors and officers, as many business and finance professors do? Some scholars say the discussion is long overdue."
From the New York Times:
"Academic economists, particularly those active in policy debates in Washington and Wall Street, are facing greater scrutiny of their outside activities these days. Faced with a run of criticism, including a popular movie, leaders of the American Economic Association, the world's largest professional society for economists, founded in 1885, are considering a step that most other professions took a long time ago adopting a code of ethical standards.
Should economists be required merely to disclose who finances their research, as many academic journals already require? Should they have to reveal which corporate clients they advise, consult for or give speeches to? Should they even be allowed to serve as corporate directors and officers, as many business and finance professors do? Some scholars say the discussion is long overdue."
