Tuesday, February 19, 2013

Conflicts of Interest and the Scientific Discovery Process

The Journal of Economic Perspectives has published a fascinating piece about a high stakes competition that took place in the early 1950s in academic economics.  The author concludes that Lionel McKenzie merits much more credit for his research on general equilibrium than he has received.  The good news is that in this age of Google and "thick international markets" in economics that this "inside baseball" couldn't happen again.