Economics
Jul 31, 2025
Ricardo Hausmann
Many of today’s most urgent global challenges, from stagnant growth to climate change, require ambitious, innovative policies. Yet economics has shifted away from creative problem solving toward a narrow approach that is incapable of devising practical solutions to complex, real-world problems.
CAMBRIDGE – Should the world have dentists or lawyers? Obviously, it needs both, given that each profession serves different purposes. But when it comes to economics, the question is more complicated, because the field confronts an internal identity crisis over what kind of economists it should produce: policy architects or program auditors?
