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What's an economist?

tue17jun2008—25w169d46%—08h45m00s—0utc
economics, ★ favorites, philosophy, original content, definitions, family, questions

For my sister, Alex, who will start her Economics major this July

Economists are philosophers of human action.

They’re close to psychologists, neurologists, sociologists, anthropologists, and ethicists.

But psychologists focus on the mind behind the human action, neurologists focus on the underlying brain, sociologists on the surrounding society, anthropologists on the enveloping culture. Ethicists focus on the aesthetics of human action, on what human action should be.

Economists, on the other hand, focus on the actions themselves, on trying to understand them in their own terms. They ask questions like:

What patterns does human action follow? What different kinds can we usefully distinguish? Why are these actions taken? What are the goals behind these actions? What would the consequences be of these actions? Why do these actions have these consequences? In other words, what is the interplay between goals, conditions, actions, and consequences? If someone took these actions what actions are others expected to take? How will these actions affect others? What are the best actions to take given these goals? How best to organize and coordinate human action? What are the limits of human action? How to improve human action?

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3 Comments

Darren

Hi

Very interesting brake down i found your blog from your image search engine which sent some hits to my site i love your image search engine by the way

The economist predictions tend to brake down once panic be comes a factor as we are seeing

Great blog

Thnaks
Darren
elzr

Darren:

Economist predictions break down pretty much all the time ;)

Thanks for your kind words.
erasmo

even though the bias is obvious (both as a moderate left wing paper and a blatantly state-fixing author and award winning economist) i think the analysis is good, and might interest you: http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html?_r=1

heh… not fluent in textile and not enough time to polish with html, so sorry about the link and also, that’s not how i meant my comment in parentheses to appear