Do Economists Have Social Responsibilities?

The video explores the concept of positive economics and its limitations, emphasizing the implicit social values in economic practices. It discusses the ethical responsibilities of economists, especially when they influence public policy. The dilemma of lying in economics is examined, using Ben Bernanke's actions during the 2008 financial crisis as a case study. The need for professional ethics in economics is debated, highlighting the difference between ethics and a code of conduct. Finally, the video addresses the limits of economic knowledge and the importance of acknowledging these limits in economic training.

What role does public perception play in the ethical responsibilities of economists?

What are the limits of knowledge that economists face, and how should this be addressed in education?

How can economists present themselves in a way that acknowledges their limitations?