“The knowledge of economists is not such that politicians should confidently follow their precepts”

Tribune. The flowering of economic proposals, often heterodox, at the start of the presidential campaign has prompted the economist profession to ask itself, following the example of the economist Emmanuelle Auriol, in her rostrum at the World of December 17, 2021, “Why are economists so little listened to by the 2022 presidential candidates? » A recurring response underlines the lack of economic culture of both citizens and politicians. Let more economists take on political responsibilities and societies will be better off!

We cannot be satisfied with this proposal. It overestimates the knowledge of economists, it postulates an unlikely merger of two opposite professions. Above all, it neglects the mobilization of citizens’ expectations and skills. It is needless to insist on the fact that the knowledge of economists is not such that politicians must confidently follow their precepts.

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Indeed, there is a much more fundamental reason for the discretion granted to political leaders. The scientist – whom the economist aspires to be – must seek to establish the truth of the propositions he puts forward. It proposes a paradigm from which it derives properties that it must submit to a multiplicity of tests: if they resist it – a rare circumstance in macroeconomics – the community to which it belongs recognizes its scientific nature.

The weight of public opinion

This assumes that the phenomena are reproduced identically in time and space. However, this is not the case for epoch-making innovations: yesterday the euro, liberalization and financial globalization, today the responses to climate change, pandemics and inequalities.

Since most economists restrict their analysis to the allocation of scarce resources to satisfy potentially unlimited needs, all processes are therefore assessed against the principle of efficiency. Either a particular conception of what a “good society” is, which is not intended to be unanimous. Economists thus willingly leave the question of social justice to public decision-makers; yet it often conditions the acceptance of economic policies.

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The contrast with the habitus of the politician is obvious. His own objective is to accede to power, to stay there by deciding on measures which consolidate his support by a sufficient fraction of the population. It is therefore geared towards public opinion. Nowadays, it uses both quantitative (popularity rating) and qualitative (degree of approval of such and such a measure) polls… even if in the past their results, misinterpreted, have been a source of bitter failures.

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