The new consensus of economists is further to the left

Based on an extensive survey of the members of the American Economic Association this paper compares consensus among economists on a number of economic propositions over four decades. The main result is an increased consensus on many economic propositions, specifically the appropriate role of fiscal policy in macroeconomics and issues surrounding income distribution. Economists now embrace the role of fiscal policy in a way not obvious in previous surveys and are largely supportive of government policies that mitigate income inequality. Another area of consensus is concern with climate change and the use of appropriate policy tools to address climate change.

That is from a new paper by Doris Geide-Stevenson and Alvaro La Parra Perez.  While I believe left-wing economists are more likely to answer such surveys (and maybe this gap is growing over time?), still I do not doubt the essential correctness of this result.  Note also that immigration and floating exchange rates remain popular, tariffs remain unpopular.

Via Jeremy Horpedahl.


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