“chicago economics,” “chicago sociology,” and “chicago anything else”
Near the end of James Heckman’s lecture on the scholarly legacy of Gary Becker, Heckman argued that Becker was a fine addition to the legacy of “Chicago economics.” He didn’t mean that Becker was a monetarist – the “Chicago school” of Friedman and his followers. Instead, he meant that Becker fit in well with the long tradition of great Chicago economic thinkers including not only free marketers (like Friedman) but also liberals (Paul Douglas), socialists (Oscar Lange), and weirdos (Thorstein Veblen). But what does that mean? Here is what it means:
- People know the whole field of economics, they aren’t just narrow specialists.
- Economics is not a parlor game. It is important.
- Empirical work is important and it is not devalued.
Thumbs up. But let me extend it. This Chicago attitude should extend to the whole of social sciences. People ask me, for example, why I was so damn harsh on the critical realists and the post-modernists. Why? Because what I do is important. It is empirical and it reflects what I’ve learned from absorbing the hard earned lessons of my predecessors. So when I see scholarship sink into a miasma of words, or the toy tinkering with cuteonomics, I can only conclude that the person is here to play games, not figure out how the world works. Excuse me while I get back to work.