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.

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