The Politics and the Sociology of the Economics Profession - James Galbraith

The video discusses the sociology of the economics profession, focusing on the hierarchy of journals and departments. It highlights the challenges faced by unorthodox or dissident economists in getting published and gaining recognition. The video also examines the evolution of economics departments, noting a shift towards conventionality and uniformity. It emphasizes the need for institutions that support diverse economic thought to prevent talented individuals from leaving academia for other fields.

What is a significant challenge for unorthodox articles in the economics profession?

• They lack proper citations.

• They are too expensive to publish.

• They struggle to get published in top journals.

• They are often too lengthy.

How did the economics department at Harvard in the 60s and 70s differ from today's departments?

• It was more focused on macroeconomics.

• It was more technologically advanced.

• It was more eclectic and diverse.

• It had fewer faculty members.

Which economist is mentioned as an exception in top-level departments today?

• Joe Stiglitz

• Kenneth Carroll

• Celia Leontiev

• Phillip Murawski

What happened to the unorthodox department at Notre Dame?

• It came under attack and lost its ability to train PhD students.

• It expanded its faculty.

• It was praised for its innovation.

• It received increased funding.

What career path do bright individuals often choose when discouraged by academic challenges?

• They become teachers.

• They pursue careers in Wall Street.

• They start their own businesses.

• They become politicians.