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Economic Science

The role of politics and ideology in economics

Posted by e-axes on October 15, 2019

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Evidence of ideological bias

Using a well-known experimental “deception” technique embedded in an online survey that involves just over 2400 economists from 19 countries, Javdani and Chang fictitiously attribute the source of 15 quotations to famous economists of different leanings. In other words, all participants received identical statements to agree or disagree with, but source attribution was randomly changed without the participants’ knowledge. The experiment provides clear evidence that ideological bias strongly influences the ideas and judgement of economists. In particular:

  • Changing source attributions from mainstream to less-/non-mainstream figures significantly reduces the respondents’ reported agreement with statements;
  • Economists’ self-reported political orientation strongly influences their ideological bias, with estimated bias going up as respondents’ political views move to the right, and;
  • The estimated bias is also stronger among mainstream than among heterodox economists, with macroeconomists exhibiting the strongest bias.


“[W]e find that the largest reduction in agreement level for treatment 1 occurs for Statement 6, which is arguably the statement that is most critical of mainstream economics and its methods, and also brings up the issue of ideological bias in mainstream economics.”
Who Said or What Said? Estimating Ideological Bias in Views Among Economists
Authors: Mohsen Javdani, Ha-Joon Chang
From: University of British Columbia, University of Cambridge

Political bias in the US

The main empirical finding of our paper is that there is a very strong ideological divide among politically engaged economists in the United States, which mirrors the cleavage within the US political system. This divide is particularly stark in the field of fiscal policy, while it is to a lesser extent also present in other fields of public policy. A greater tendency towards consensus in turn can be found in the fields of monetary policy and trade policy, which is maybe also a reason for the much lower number of economist petitions in these fields.

Divided We Stand? Professional Consensus and Political Conflict in Academic Economics
Authors: Karl M. Beyer, Stephan Pühringer
From: Johannes Kepler University Linz

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