Consensus Among Economists: Revisited

Abstract

The authors explore consensus among economists on specific propositions on the basis of a fall 2000 survey of American Economic Association members. Because some propositions are drawn from earlier studies, the results illustrate the dynamics of opinion within the profession. The authors generally find consensus within the profession, although the degree of consensus varies between propositions that are international, macroeconomic, and microeconomic in nature. Consensus is particularly strong for propositions of free international trade and capital flows. In contrast, macroeconomic propositions exhibit a lower degree of consensus, partly because of increased agreement with monetarist and supply-side propositions over time. The profession displays substantial skepticism concerning claims of the “New Economy.”

Key Words:

• changes in opinion
• consensus
• economists' views

Additional information

Notes on contributors

Dan Fuller

Dan Fuller is the Dee Smith Professor of Economics (e-mail: [email protected]). Doris Geide-Stevenson is an associate professor of economics. Both are at Weber State University. The authors thank the Weber State University Research, Scholarship and Professional Growth Committee for a financial support of this survey. They thank Richard Alston, William Walstad, and an anonymous referee for helpful comments.