Curiosity without borders

Recently I got C.P.Snow’s [amazon_link id=”1107606144″ target=”_blank” ]The Two Cultures[/amazon_link] down from the shelf, to refer to for my essay with Andy Haldane in January’s Prospect. It was recently reissued with Snow’s own 1964 addition of a reflection on the reactions to his 1959 lectures, and with an interesting introduction by Stefan Collini. This week I read the whole thing again.

[amazon_image id=”1107606144″ link=”true” target=”_blank” size=”medium” ]The Two Cultures (Canto Classics)[/amazon_image]

What people remember is the vicious personal attack on Snow by F.R.Leavis, itself seeming to be an examplar of the chasm between the scientific and literary cultures that Snow had described.The essay is more balanced than this Punch and Judy version suggests: Snow certainly does not suggest that scientific knowledge is superior in any cosmic epistemological ranking. Both frames of reference are needed: “The clashing point of two subjects, two disciplines, two cultures… ought to produce creative chances. In the history of mental activity, that has been where some of the break-throughs came.”

What he does say is that the culture of the humanities dominated public life at the time, in the UK more than in the US and USSR, and that people from that literary culture did not feel the need to know the basics of the culture of science and technology. He suggests the attitude descended from the “Luddite” rejection of the Industrial Revolution by writers such as [amazon_link id=”1499261055″ target=”_blank” ]Ruskin[/amazon_link] and Blake, whereas, as the essay puts it: “With singular unanimity, in any country where they have had the chance, the poor have walked off the land into the factories as fast as the factories could take them.”

[amazon_image id=”1843680602″ link=”true” target=”_blank” size=”medium” ]Unto This Last[/amazon_image]  [amazon_image id=”0192810898″ link=”true” target=”_blank” size=”medium” ]Songs of Innocence and of Experience: Shewing the Two Contrary States of the Human Soul (Oxford Paperbacks)[/amazon_image]

Snow also points to the class-bound conservatism of the English (I mean English, not British) education system. It elevated the classics and literature as the appropriate subjects for the grooming of the elite via grammar and public schools and the top universities. Science did find its place, but was looked down on – certainly where it shaded into engineering and technology. Unlike Germany, France or the US, engineering was not a subject for a gentleman to study; this was more appropriate for the lower social orders.

This seems to me largely true, of the 1950s and 60s, and even now. Why else would successive British governments still feel the need to proseletyse for the ‘STEM’ subjects, if it were not that we had such a big gap with other countries to close? When you sit watching ‘University Challenge’ on TV and shout out the answers, I’m prepared to bet that the scientists can answer a few more humanities questions than vice versa. Our education system still forces young people to specialise absurdly early and absurdly sharply in either the sciences or the humanities. We still have an education system that allows far too many people to emerge saying, “I’m no good at maths,” which is like saying “I’m no good at thinking,” when it’s just that the symbols for getting thought onto paper or screen are different.

Snow insisted that the controversy missed the main point of his lecture, which was to underline the importance of scientific culture for economic development in poor countries. Here, though, his argument is – with hindsight – naively optimistic. “Since the gap between the rich countries and the poor can be removed, it will be,” Snow wrote. The scientific and technical knowledge being available, all that was needed was capital – a big task but a feasible one. Six decades later, it is clear that the gap can be closed but need not be. Electricity and indoor plumbing are very old technologies, as yet unavailable to very many inhabitants of poor countries, whereas mobile phones are a relatively new technology now available to and used by almost everyone in the world.

The missing element is what Snow described in his 1964 reflection as the third culture, the social sciences, and their perspective on “the human effects of the scientific revolution”. He blamed his English education, which meant he was “conditioned to be suspicious of any but the established intellectual disciplines.” 

I think the inhabitants of the culture of the humanities are broadly speaking at least as suspicious of the social sciences as they are of the natural sciences and technology: what they like about the social sciences are the historical and literary aspects, and what they dislike are the parts that use the scientific method, i.e.confronting human society with empirical evidence to test hypotheses systematically, even using maths. They often describe economists, for example, as suffering from ‘physics envy’. Maybe some do, but equations are just symbols for a prism on the world which might permit the testing of hypotheses. Even historians have models – hypotheses about causes and consequences – but they use words as their symbols, and sequences of events as their empirical evidence.

So I’m with Snow on the importance of crossing boundaries. He writes, “Unless one knows, production is as mysterious as witch doctoring.” Not enough people understand how things get made, whether cars or software systems. Not enough people understand how radio waves work or why epigenetics is worth getting your mind around. And not enough scientists read poetry, too. Here’s to curiosity without borders!

The Worldly Philosophers 2.0

Readers of yesterday’s post responded enthusiastically with lots of great suggestions for readings on the history of economic thought – see for example this list from Beatrice Cherrier.

Still, it’s clear there’s no single and accessible, reasonably short, book that is a post-1930s equivalent of Heilbroner’s [amazon_link id=”0140290060″ target=”_blank” ]The Worldly Philosophers[/amazon_link]. So here are my suggested candidates for a follow-up. This doesn’t mean I like them all! The criterion is that they clearly shaped the character of economics in a meaningful and lasting way – going up to the early 1980s. Needless to say, the suggestions also reflect the limitations of what I know.

Feel free to disagree! But the limit is 12 chapters, so if you’re adding names, you also need to subtract.

  • John Nash
  • Ronald Coase
  • Paul Samuelson
  • Ken Arrow
  • Milton Friedman
  • Gary Becker
  • Fischer Black
  • Robert Lucas
  • Paul Romer
  • Joseph Stiglitz
  • James Heckman
  • Daniel Kahneman

One of the interesting aspects of this exercise is how little known to the general public most of these people are – making the selection difficult because of course there are lots of economists almost as influential who are omitted from this list. Contrast this the role inter-war economists played as public intellectuals when it was clear who the most influential thinkers in the subject were. Maybe that’s changing again now, in the era of Piketty.

Update: Beatrice Cherrier has put together a terrific list of readings about the people suggested in this post.

Unhistorical economics?

It’s a university day for me and I was chatting over tea with my economic historian colleague Chris Godden about the new interest in economic history, as people try to understand the turbulent post-crash, perma-crisis times we seem to live in. We got to wondering, though, why there was less interest – including or especially among economists – in the history of economic thought. One might have expected reflection on what had gone wrong with economics, crisis-wise, to lead people to ask some questions about how we got here.

We got on to what books eager undergraduates should be pointed to. Reading the originals is sometimes heavy going – I wouldn’t point anyone to [amazon_link id=”0486434613″ target=”_blank” ]Ricardo[/amazon_link], for example. There are some excellent books around. Robert Heilbroner’s [amazon_link id=”0140290060″ target=”_blank” ]The Worldly Philosophers[/amazon_link] is still the best introduction, I think. An older book is Eric Roll’s [amazon_link id=”0571165532″ target=”_blank” ]A History of Economic Thought [/amazon_link](1st pub. 1956), which is better at rooting the individuals in the context of the intellectual currents of their time. More recent is Sylvia Nasar’s [amazon_link id=”1841154563″ target=”_blank” ]Grand Pursuit,[/amazon_link] a very accessible read. There’s also the more scholarly (and very good) [amazon_link id=”0691148422″ target=”_blank” ]Economics Evolving[/amazon_link] by Agnar Saandmo. There are also plenty of books about Keynes, notably Robert Skidelsky’s [amazon_link id=”0141043601″ target=”_blank” ]Return of the master[/amazon_link], and other individuals – there’s Thomas McCraw’s[amazon_link id=”0674034813″ target=”_blank” ] Prophet of Innovation[/amazon_link] on Schumpeter, Nicholas Wapshott’s [amazon_link id=”B005LW5K6G” target=”_blank” ]Keynes – Hayek[/amazon_link]. And more.

[amazon_image id=”068486214X” link=”true” target=”_blank” size=”medium” ]The Worldly Philosophers: The Lives, Times, and Ideas of the Great Economic Thinkers[/amazon_image]   [amazon_image id=”0571165532″ link=”true” target=”_blank” size=”medium” ]The History of Economic Thought: Fifth Edition[/amazon_image]   [amazon_image id=”1841154563″ link=”true” target=”_blank” size=”medium” ]Grand Pursuit: The Story of the People Who Made Modern Economics[/amazon_image]  [amazon_image id=”B00DT696Q6″ link=”true” target=”_blank” size=”medium” ]Economics Evolving: A History of Economic Thought 1st (first) Edition by Sandmo, Agnar [2010][/amazon_image]   [amazon_image id=”B002RI99FU” link=”true” target=”_blank” size=”medium” ]Keynes: The Return of the Master[/amazon_image]   [amazon_image id=”B00MMQTSQC” link=”true” target=”_blank” size=”medium” ][(Prophet of Innovation: Joseph Schumpeter and Creative Destruction)] [ By (author) Thomas K. McCraw ] [November, 2009][/amazon_image]   [amazon_image id=”B00GSCVZX0″ link=”true” target=”_blank” size=”medium” ]Keynes Hayek: The Clash That Defined Modern Economics by Wapshott. Nicholas ( 2012 ) Paperback[/amazon_image]   [amazon_image id=”0486434613″ link=”true” target=”_blank” size=”medium” ]The Principles of Political Economy[/amazon_image]

But the striking thing about all this is how long ago the history of economic thought ends. So my question is which economists since the 1930s would have to feature in an update of any of the above books? Some names are obvious – Samuelson, Friedman, Becker. Are there others? Who post-1970s who has clearly influenced the direction of economic thinking?

Historicism and its enemies

By the time I had to head back to the station yesterday, I’d almost finished reading the manuscript I’m reviewing, so I borrowed Karl Popper’s [amazon_link id=”0415278465″ target=”_blank” ]The Poverty of Historicism[/amazon_link] from the shelves of my University of Manchester office mate John Salter (as he teaches political economy, and theories of justice, he has a fine and tempting collection of classics).

I’m not very far into it yet, but it’s striking that Popper excludes economics from his pronouncements about methodology in the social sciences. Eg, “I am convinced that such historicist doctrines of method are at bottom responsible for the unsatisfactory state of the theoretical social sciences (other than economic theory).” No doubt all will be revealed, but it’s surprising to read this at a time when economics is widely criticised.

[amazon_image id=”0415065690″ link=”true” target=”_blank” size=”medium” ]The Poverty of Historicism[/amazon_image]

Impossibility and elections

I’ve now read a few more of the essays in [amazon_link id=”1137383585″ target=”_blank” ]Economics for the Curious[/amazon_link], the collection of essays for young economists by the Lindau lecturers. Eric Maskin’s chapter, How Should We Elect Our Leaders, is the most accessible explanation I’ve read of Arrow’s Impossibility theorem in the context of elections, and is particularly interesting reading for anybody in the UK as we face the likelihood of an election outcome even more hung in 2015 than it was in 2010.

[amazon_image id=”1137383585″ link=”true” target=”_blank” size=”medium” ]Economics for the Curious: Inside the Minds of 12 Nobel Laureates[/amazon_image]

The chapter describes Maskin’s work with Partha Dasgupta looking at what voting system best satisfies the other Arrow conditions when the ‘unrestricted domain’ condition is removed by taking account of the fact that voters’ preferences are limited in plausible ways – for example, a left-wing voter will prefer candidates of the left to any candidates of the right. (Sen of course long ago identified the unrestricted domain condition as the least necessary of the Arrow conditions.) In this case, Maskin and Dasgupta prove that majority voting is clearly the best system.

As Maskin concludes here: “Majority rule is used by virtually every democratic legislature in the world for enacting laws. … It is interesting that there is a precise way in which majority rule does a better job than every other electoral method in embodying what we want out of a voting system. So, perhaps the next time your legislature votes in favour of an absurd law,, you can take consolation from the fact that … they at least used the correct method for voting!”