do conservative economists exist?
After my talk at GMU on Friday, I was lucky enough to have dinner with a fun group of policy folks and economists. The discussion ranged over a lot of great topics, but here’s one question I’d like to share: Are there really any conservative economists?
This question may surprise you because economics is considered the most conservative branch of the social sciences. To get the discussion, let me explain the definitions. First, by “economist,” they clearly meant a professional PhD holding economist. Not the policy wonks you’ll find around DC. Second, by “conservative,” they mean someone who is socially conservative – anti-gay, anti-immigrant, anti-drug legalization, a Bill Bennett style culture warrior, pro-life, evangelical Christian, etc.
The observation was that economists range from liberal (e.g., Paul Krugman) to libertarian (e.g., Milton Friedman). And this is backed up by survey evidence. On social issues, economists tend to be fairly liberal, even in comparison with other social scientists. They are conservative when it comes to economic policy such as minimum wages and price controls. It was argued that economists are rarely socially conservative, while many are economically conservative.
Do you buy this observation? Can you think of prominent economists who are socially conservative?