The paradox of popularity in economics

Abstract

This special issue collects papers presented at the EIPE Conference ‘Economics Made Fun in the Face of the Economic Crisis’ held on 10–11 December 2010 in Rotterdam. The central theme of the conference was the tension between the bold claim in Economics Made Fun books that economics can explain the hidden side of everything and the apparent failure of economics to foresee, let alone prevent the financial crisis. Economics is understandably unpopular as a subject because of the financial crisis, and yet the popular appetite for economics seems only to have increased in recent years. In this Introduction to the special issue I want to explore some reasons that might explain this paradox.

Keywords:

• popular economics
• financial crisis
• public understanding

Acknowledgements

I would like to thank Jack Vromen, N. Emrah Aydınonat and participants at the Rotterdam symposium for helpful comments.

Notes

1. http://www.paecon.net/PAEReview/ (accessed 13 February 2012).

2. http://ineteconomics.org/ (accessed 13 February 2012).

3. In the US, 2010 saw a huge increase in digital books and also a 5% increase in traditional book output to over 316,000 new titles and additions. In the UK, the same year saw a 14% increase to nearly 152,000 new titles. http://www.thebookseller.com/news/number-us-physical-books-printed-increases-despite-digital.html (accessed 13 February 2012).

4. See for example the UK figures on the number of sixth form economics students: http://tutor2u.net/blog/index.php/economics/comments/a-level-economics-continues-to-grow/ (accessed 13 February 2012).

5. http://www.gla.ac.uk/services/specialcollections/collectionsa-z/leftbookclub/ (accessed 13 February 2012).