He [Cowen] said that he agreed with the idea that influence of economics comes from a relatively small number of institutions, and he thinks the number is shrinking. “What used to be something like a ‘top six’ has over time become the ‘top two,’ namely Harvard and MIT.”
Cowen said that he doesn’t “find that entirely ideal, by any means.” But he also said that those departments deserve praise for their work. “Harvard and MIT are in fact remarkably good at finding, evaluating and attracting top talent. It is stunning how good they are at this, and we should not begrudge them that,” he said. (Cowen is an example, having earned his Ph.D. at Harvard. His undergraduate alma mater is George Mason, where he teaches.)
The centralization of top departments, he said, worries him less than do “pressures for conformity.”
Cowen added that he is sympathetic to Vigdor’s criticism, but that the centralization may be “an opportunity” for departments outside the elites to shine. “The centralized centers of influence are going to miss important ideas in their early stages,” Cowen said. “Both public choice and experimental economics came out of non-top schools,” including to some extent George Mason, he said. “So did blogging. If something is unfair, well, in part that is your big chance.”
That is from Scott Jaschik at Inside HigherEd, mostly about Jacob Vigdor and his critique of the economics profession.