September 7, 2012
The world’s top 10 living economists
The world's best living economists:
This list of the world's 10 best living economists is supplemented by my list of good Indian economists. Please note that this list is in no particular order.
- James Buchanan [Since dead]
- Deirdre McCloskey
- Gary Becker [Since dead]
- Douglass Cecil North
- Ronand Coase [Since dead]
- Harold Demsetz
- Armen Alchian [Since dead]
- William Easterley
Why Jagdish Bhagwati and Deepak Lal have been CROSSED OUT;
13 May 2014: MY STRONG RESERVATIONS AGAINST DEEPAK LAL AND JAGDISH BHAGWATI AS MORAL THINKERS
When I first proposed this list I was focused on the economics of these people. Today, I'm wiser. Economists like Deepak Lal and Jagdish Bhagwati have failed to consider the facts of the BJP manifesto and the broader concept of liberty and justice. They have glossed over Modi's murderous past and ongoing sabotage of the justice system. In that sense they have betrayed India. I'm deeply disappointed with these half-baked thinkers. I have now crossed out their names from the above list. They may have been good economists, but they are not moral philosophers, not men who I believe support LIBERTY.
ADDENDUM 18 May 2014 Economics is not just "economics". It is a branch of liberty. Being a good economist but supporting criminality is the END of any claims to economics. Economics came as follows. First the theory of liberty (Hobbes/Locke), then an understanding of the free society (Adam Smith), then understandings of the details of economics (Menger, etc.).
Without the theory of liberty there can be NO economics. And liberty is crucially dependent on justice/ethics/accountability. Since Bhagwati/Lal have a tunnel vision (like a horse with blinkers) and don't understand or don't have the capacity to understand justice, they are not capable of being considered economists.
As Navin Singh wrote on FB: "They are all supporting NM because they agree with his economics. Of bullet train and linking of rivers , of doles to corporates and promotion of handicrafts , govt subsidies for non viable solar plants"
Indeed, that's right. The moment they indiscriminately sing praises of Modi, their goose as economists is cooked. Not just Modi's commitment to liberty is flawed, his economics is a mess.
- Vernon Smith
- George Selgin
- Timur Kuran
- Daniel Klein
- John List
- Steve Kates
- Donald J. Boudreaux
- Bryan Caplan
As you'll notice I give priority to economists who can explain the real world and whose work helps me offer REAL solutions. Or those who challenge shoddy thinking (John List comes to mind).
This list is not comprehensive. There are thousands of others worth reading. But if you read the work of these 15 living economists, you'll become capable of dealing with most problems in the real world.