Since almost a year now I’m involved in local politics (a few long evenings a week). Apart from all the obvious differences between the business of politics and the business of history of economics, I’ve noticed an unexpected similarity. Whenever politicians receive information of any kind, they will immediately do two things: 1) Check where the information is coming from, and 2) See how they can spin the information to their advantage. Politics is founded on the firm belief that there is no such thing as objevtive, or value-free information – even though part of the rhetoric is that there is. Ok, you might say, surely you knew that before entering politics. I did, although I had never realized how strongly and deeply rooted this conviction is in every nerve of the political process. But I also think that how readily you, reader of this blog, recognize the self-evidence of this observation, testifies to how similar the history of economics perspective is to the political perspective. Although we do different things, we historians also treat all information – publications, archival sources, interviews – always and everywhere very explicitly as the product of its source. That is, we never treat the information without taking into account the origin of the source.
But academic economists (including the IMFs and OECDs of this world) do. In fact, when we as historians of economics are alerted by fact that economists could take some information about some phenomena as THE truth, we are alerted in the very same way as are politicians about the same economists. Ipso facto, when economists are alerted because we introduce this source- or context-dependence in the discussion, they are alerted in the same way as they are alerted when politicians start questioning the source of their information (or worse, start spinning it). Economics is a self-perceived body of value-free, objective knoweldge in between two realms of politics and history of economics with surprisingly similar world views.
Ps: Not implying any of the three is better than the other of course….