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Nesster · 12-19-2012, 09:18 AM

Quote:

Ever hear the joke about the lying economist?

No? Well, neither have I. But we might need to come up with one.

Such is the takeaway from a working paper released in January, which I stumbled on while browsing Professor Andres Marroquin's top papers of 2012. Written by a pair of researchers from universities in Montreal and Madrid, it examined whether the study of economics made students more apt to lie for financial gain. The answer: a resounding yes.

Several past experiments have tried to test how people's personal beliefs and background influence their willingness to lie, and one, published in 2009, had yielded results suggesting that economics students were more likely to fib than those in other disciplines. Raul Lopez-Perez and Eli Spiegelman -- both economists themselves -- wanted to find out if those findings would hold up in another lab setting ... and if they did, exactly why that might be the case. Were econ students over-internalizing the lessons of the dismal science, which teaches that human being are supposed to act in their rational self interest? Or were dishonest young folks just more likely to sign up for econ classes in the first place?

Research Says: Studying Economics Turns You Into a Liar - Jordan Weissmann - The Atlantic

So it is scientifically proven: Economists lie.

reeftool · 12-19-2012, 10:05 AM

I don't know if they "lie" but I think much of what is taught and discussed in the field of Economics is theory and it doesn't always work out. Economists are aligned in certain camps and firmly believe in the theories they were taught and go into shock when the theory fails. We saw a lot of this in the fall of 2008. They didn't believe what was happening was possible. They stood in front of Congress and looked like deer who just saw a Peterbuilt coming.

JohnInIndy · 12-19-2012, 11:32 AM

He's lying.

jeffkrol · 12-19-2012, 11:44 AM

Originally posted by reeftool

I don't know if they "lie" but I think much of what is taught and discussed in the field of Economics is theory and it doesn't always work out. Economists are aligned in certain camps and firmly believe in the theories they were taught and go into shock when the theory fails. We saw a lot of this in the fall of 2008. They didn't believe what was happening was possible. They stood in front of Congress and looked like deer who just saw a Peterbuilt coming.

When you base your "theories" on bad, discredited or no longer relevant facts.. well that is what you get.. Tap dancing so you don't look like a fool............

JohnInIndy · 12-19-2012, 11:54 AM

Originally posted by jeffkrol

When you base your "theories" on bad, discredited or no longer relevant facts.. well that is what you get.. Tap dancing so you don't look like a fool............

Like Barney and Chris did eh?

Well they tap danced but still looked like fools.

12-19-2012, 09:18 AM	#1
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	Research Says: Studying Economics Turns You Into a Liar Quote: Ever hear the joke about the lying economist? No? Well, neither have I. But we might need to come up with one. Such is the takeaway from a working paper released in January, which I stumbled on while browsing Professor Andres Marroquin's top papers of 2012. Written by a pair of researchers from universities in Montreal and Madrid, it examined whether the study of economics made students more apt to lie for financial gain. The answer: a resounding yes. Several past experiments have tried to test how people's personal beliefs and background influence their willingness to lie, and one, published in 2009, had yielded results suggesting that economics students were more likely to fib than those in other disciplines. Raul Lopez-Perez and Eli Spiegelman -- both economists themselves -- wanted to find out if those findings would hold up in another lab setting ... and if they did, exactly why that might be the case. Were econ students over-internalizing the lessons of the dismal science, which teaches that human being are supposed to act in their rational self interest? Or were dishonest young folks just more likely to sign up for econ classes in the first place? Research Says: Studying Economics Turns You Into a Liar - Jordan Weissmann - The Atlantic So it is scientifically proven: Economists lie.

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12-19-2012, 10:05 AM	#2
reeftool Pentaxian Join Date: Dec 2007 Location: Upstate New York Photos: Gallery \| Albums Posts: 9,555	I don't know if they "lie" but I think much of what is taught and discussed in the field of Economics is theory and it doesn't always work out. Economists are aligned in certain camps and firmly believe in the theories they were taught and go into shock when the theory fails. We saw a lot of this in the fall of 2008. They didn't believe what was happening was possible. They stood in front of Congress and looked like deer who just saw a Peterbuilt coming.

12-19-2012, 11:32 AM	#3
JohnInIndy Veteran Member Join Date: Aug 2010 Posts: 794	He's lying.

12-19-2012, 11:44 AM	#4
jeffkrol Veteran Member Join Date: Sep 2006 Location: Wisconsin USA Photos: Gallery Posts: 8,434	Originally posted by reeftool I don't know if they "lie" but I think much of what is taught and discussed in the field of Economics is theory and it doesn't always work out. Economists are aligned in certain camps and firmly believe in the theories they were taught and go into shock when the theory fails. We saw a lot of this in the fall of 2008. They didn't believe what was happening was possible. They stood in front of Congress and looked like deer who just saw a Peterbuilt coming. When you base your "theories" on bad, discredited or no longer relevant facts.. well that is what you get.. Tap dancing so you don't look like a fool............

12-19-2012, 11:54 AM	#5
JohnInIndy Veteran Member Join Date: Aug 2010 Posts: 794	Originally posted by jeffkrol When you base your "theories" on bad, discredited or no longer relevant facts.. well that is what you get.. Tap dancing so you don't look like a fool............ Like Barney and Chris did eh? Well they tap danced but still looked like fools.