Hisreco 2017: no decreasing returns, yet.

20170420_180853The 11th History of Recent Economics conference (HISRECO) took place at the University of Lucerne on April 21-22, 2017. As a co-organizer of this conference, with my dear friends Pedro Duarte and Verena Halsmayer, I am not well placed to express an opinion on it. Let’s just say that we haven’t entered the period of decreasing returns yet. We had a very nice roster that included historians of economics, historians and STS scholars, and that my impression last year that the distance between those communities was decreasing has not been proven wrong. This is not to say that all the papers that were presented were perfect: they need not be, anyway. But the free-form discussions we had were as enthralling as ever. A quick summary follows.

Harro Maas (University of Lausanne) wrote on forecasting in the Netherlands, from the early postwar years of the Centraal Planbureau (CPB) to the aftermath of the 2008 crisis. He put in contrast the practices of scientific modeling and the idiosyncratic practices of the quacks. The latter were rehabilitated as the only ones who managed to predict the Great Recession.

Marion Ronca (University of Zurich) talked about Eugen Böhler, the Swiss economist, and his influence on the economic policies of his country. Converted to Keynesianism after fighting against it, Böhler was nonetheless an intellectual who did not fit into the mainstream economics of his time. At the end of his year, he used Carl Jung’s concept of mythos to criticize the discipline.

Laetitia Lenel (Humboldt University of Berlin) studied the first years of the NBER, showing that not only the methodologies used there differed from those adopted at the Cowles Commission but the views of the role of policy as well. While Koopmans and his allies’ endeavors aimed at advising the government, Mitchell and Burns were interested more in collecting facts and educating the public at large.

Sarvnaz Lotfi (Virgina Tech) provided an account of Research and Development (R&D) in the postwar period. Her project is to contrast the views of R&D as the main explanation of macroeconomic growth (following Solow’s residual) with its practical value as shown in accounting, management and law. Ultimately, there is more disparity than consensus in the way scholars and policymakers envisage the value of R&D to a nation.

Roger Backhouse (University of Birmingham) attempted to assess MIT economist Paul Samuelson’s role in influencing the economic policies of John Kennedy. Samuelson did not participate directly in policy advising, choosing instead to reflect on policy through his textbook and interventions in the press. This illustrates his cautious, even ambiguous, stance towards politics.

Cleo Chassonnery-Zaigouche (University of Lausanne) provided an alternative account of the role of economists in the courtroom,  focusing more specifically on James Gwartney’s expertise in racial and gender discrimination on the labor market. The way through which truth is assessed in the court is different from the way it is done in an academic setting, affecting the view of economics as a science in the process.

Francesco Sergi (University of Paris-Sorbonne) studied the standard, internalist, history of recent macroeconomics, that is contained in the manuals used in central banks. He argues that these narratives, which are aimed at standardizing practices, also tend to “decontest the contestation” existing in the field. In his view, new neoclassical macroeconomics – needs to be disaggregated and it is the duty of historians to bring more dissent to the discipline.

Steve Medema (University of Colorado at Denver), finally, wrote on the place of non-welfarism in the debates over the Coase theorem. While economists typically tried to exclude non-welfarist – i.e. social justice related – arguments in the postwar period, those were ubiquitous in the pieces that expressed criticism toward Coases’s idea of a market-based solution to environmental issues. Medema argues that non-welfarist arguments can be considered as proxies to ideology.


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Craufurd D. Goodwin (1935-2017)

On a sadder note, we have learnt during the first day of the conference that the great historian of economics and longtime History of Political Economy Editor Craufurd Goodwin had passed away. Goodwin’s vigorous efforts to promote the history of economics did not consist in faint discourses about the vitality of the field but, rather, in his constant allegiance to the highest possible academic standards. The mere possibility of a conference like Hisreco is a testament to the excellent scholarship his endeavor helped to encourage. He was one of the true giants of our discipline and will be greatly missed. Our condolences go to his wife, Nancy, and his friends and colleagues at the Center for the History of Political Economy at Duke University.


CFP – HISRECO 2017 in Lucerne

city-scapeHistory of Recent Economics Conference University of Lucerne – April, 21-22 2017

The eleventh History of Recent Economics Conference (HISRECO) will be held at the University of Lucerne on April 21-22, 2017. Since 2007 HISRECO has brought together researchers from various backgrounds to study the history of economics in the postwar period. It is the organizers’ belief that this period, during which economics became one of the dominant discourses in contemporary society, is worth studying for its own sake. The increasing availability of archival materials, along with the development of new perspectives inherited from the larger history and sociology of knowledge, has helped to provide insightful histories of the development of recent economic practices, ideas, and techniques. In particular, this area of research offers good opportunities to young scholars who are interested in interdisciplinary approaches to the history of economics.

We invite researchers in all related fields to submit a paper proposal of no more than 500 words. Even though the organizers are open to a wide range of approaches to the history of economics, paper proposals that address the interface between this field and the history and sociology of science, or cultural and science studies will be particularly appreciated. Proposals should be sent electronically (as a pdf file) to Verena Halsmayer (verena [DOT] halsmayer [AT] unilu [DOT] ch) by October 14 2016. Successful applicants will be informed by November 15 2016.

Thanks to financial support from the University of Lucerne, FIPE (The Institute of Economic Research Foundation, Brazil), the European Scientific Coordination Network (GDRI, CNRS) and the KWI (Kulturwissenschaftliches Institut) Luzern, HISRECO has limited funds to partially cover travel and accommodation for up to four young scholars (PhD students or researchers who have obtained their PhD over the past two years, from July 2014 to October 2016). Young scholars should include in their proposal their current affiliation and the university and year of their PhD, if this is the case. Those needing more information about funding are welcome to approach the organizers.

For those who want to know more about HISRECO, a list of past conferences and contributors can be found at http://www.hisreco.org.

The organizers, Verena Halsmayer (University of Lucerne), Pedro Duarte (University of São Paulo), Yann Giraud (University of Cergy-Pontoise), and Joel Isaac (University of Cambridge).

Dr. Phil – or how I stopped worrying about economists and embraced neoliberalism.

mirowski_397x267At the latest History of Economics Society Meeting, I, with a number of friends and colleagues (co-bloggers Béatrice Cherrier, Till Duppe and Floris Heukelom), participated in a roundtable devoted to “the practical challenges of writing recent history”, organized and chaired by E. Roy Weintraub. On this occasion, we all gave speeches – mostly drawn from personal experiences – that addressed how writing the history of recent economics is different from doing the history of older economics and the kind of practical issues it required us to consider. Most of our talks addressed at some point or another the relation to current economics: on the one hand, writing the history of recent economics resonates with current research in the field, but on the other hand, economists can disagree – sometimes in print – with the kind of accounts that historians construct about them. So, in sum, writing on recent economics can help you being noticed by economists, but sometimes there is attention you may just want to avoid. Then, at the end of what was an interesting, if somewhat polite, discussion, Philip Mirowski intervened, saying that our talks were, in his opinion, too focused on our relation with economists, that we have no reason to fear them, that they have no interest in history whatsoever, whereas, at the same time, science studies scholars are mostly concerned with economics as a subject, because they feel that the prevalence of economic imperatives on the academia is a threat to the humanities departments in which they are located.

My feeling is that, even though Phil expressed his opinion in his own distinctively provocative way, he was right and that, on the other hand, by focusing too much on the relation between history of economics and economics, we may not be fully wrong, buJHETt still, at the very least, mistaken. For at least one part of the argument is true: economists, on the whole, are not interested in the history of their field and are not likely to be interested in it anytime soon. A bibliographic research I have undertaken over the past few years with my friend and fellow Pedro Duarte – forthcoming in the Journal of the History of Economic Thought -, focusing on the historical pieces published in major economics journal, led us to reach quite clear conclusions:

The trends we observe … seem to illustrate … [the] increasing estrangement between economists, when writing to the profession at large in their general top journals, and HET. Not only have we shown that, in contrast to the 1970s, fewer HET papers have been published recently in most of the top journals we studied, but we also demonstrated that the papers that have been published are so diverse in the methods they use and the issues they address that it is very hard to see them as a coherent whole—not to mention as part of a unified subfield. In particular, the fact that most of these articles rely not on specific tools and methodologies, but, rather, on surveys and quite general statements may have contributed to the conflation of historical investigations and literature surveys. Therefore, practicing economists themselves have become the main narrators of their past, whereas historians are less and less seen as the expert community to be properly consulted when accounts of past economics are needed. … As a result, the issues that are central to the latest developments of the history of economics … and the new tools that historians are using to address them … have yet to make their way into the mainstream literature.

51l-3HtHuvL._SX331_BO1,204,203,200_On the other hand, sociologists, historians, political scientists, and even management scholars are increasingly drawn to the history of recent economics. They do so because they feel that economics is an important part of today’s social, political and cultural environment and they want to understand it. Of course, there’s nothing new about this. Another friend and colleague of mine, Loïc Charles, has done work on 18th century economics with practicing historians, showing how economic thinking was intertwined with a lot of things happening at the time: international trade (including, most notoriously, slave trade), the colonization of the Americas, the French revolution, etc. But what is specific to the recent – postwar – period, is that economic thinking is not just mixed with other types of knowledge and practices, but increasingly,  is THE knowledge which is used as a way to ground, to legitimize all knowledge and practices. This recent move toward the economization of every aspect of our society is what researchers have come to designate as “neoliberalism”, and this is the one of the main concepts that makes the study of postwar economics a possibly interdisciplinary venture, one that has a lot of chance to attract readers and create scholarship.

For years, I have resisted this “neoliberal” narrative. I thought that neoliberalism was a complotist construction, that it was hard to pretend that a small group of Austrian economists, even helped by some well-organized think tanks, could influence society at large so as to create a culture so ubiquitous that we are all influenced by it, whether we like it or not. But now the literature on neoliberalism has attained a critical mass, and I must say that, altogether, it provides a good analysis grid of what’s happening in the world, even though we think that there is much to criticize in all of these contributions. There’s of course, Foucault’s 1979 course at the College de France, which falls short of details, but sets up the big picture, but in recent years, many other books have helped developed the neoclassical narrative: Wendy Brown’s philosophical account of how neoliberalism is detrimental to democracy, Bernard Harcourt’s assertion that neoliberalism is transforming all citizens into punishable subjects, Sonia Amadae’s claim that the neoliberal citizen and consumer is the strategic rational actor, described in non-cooperative game theory, Elizabeth Popp Berman depiction of the economization of academic science, etc. And of course there are all of Phil Miroswki’s contributions to the subject: see here, there, and everywhere.*

CSISo, is it convincing? Well, let’s take for instance Béatrice’s latest post. She talks about Paul Romer being appointed as chief economist of the World Bank. First, why should we be concerned about this? Why is it so special that there is a new chief economist whereas we do not seem to have much to say about Dr. Jim Yong Kim, who is an American (Korean-born) physician, and is the actual President of this institution? Well, maybe, it is because we feel that economic knowledge is going to be more important than medical knowledge when it comes to decide how countries need to be helped financially. That is something that the neoliberal narratives tries to explain. And what was Romer doing before he got this new position? I quote Béatrice, here: “Romer left academia to engineer a teaching and grading plateform called Aplia.” Some neoliberalism scholars have argued that this kind of platforms offer instances of the neoliberal transformation of education. And what about Béatrice’s last point on how “the replacement of McNamara and Chenery by Alden
Clausen and Anne Krueger in 1982 shifted the Bank’s philosophy toward a ‘Washington Consensus‘ consistent with Reagan’s program”? That is also the subject of many contributions to the history of neoliberalism. In fact, we now have a neoliberal narrative for everything: even TV series are subjected to it.

So, should we embrace all of it? Of course, not necessarily. These accounts are often partial and in need of qualification. Also, I am not claiming that every history about modern economics is underwritten by this neoliberal narrative. There are many other narratives to draw. But this is one strong reading of the current situation, and as such it needs to be addressed. This is also a fascinating laboratory for possible discussions between historians and sociologists of all social sciences, as well as with cultural theorists and political scientists. This is why I expect that when Pedro, Joel Isaac, Verena Halsmayer and I do the next HISRECO conference in Lucerne on April, 21-22 2017 (call for papers coming soon!!), the term “neoliberal” is going to pop up once again on several occasions.

*Not to mention the fact that even notorious neoliberal institutions have ended up acknowledging themselves.

From HISRECO (Antwerp) to HES (Denver) – June 2009

(if the persons pictured would like to see their portrait removed, please send me simply a note).
HISRECO: Annual conference in HIStory of RECent ECOnomic thought, taking place in Europe.
HES: History of Economics Society, gathering in the US or Canada.

The same album, but quicker to browse (smaller-sized pictures), is available here: http://www.facebook.com/album.php?aid=121531&id=522296095&l=14fd88058c