When economists are trying to explain the world they are acting as scientists, and when they are trying to improve it, they are policymakers.

Question

Quizplus · Accepted Answer

When economists are analyzing data, testing theories or developing new economic models, they are acting as scientists. When they use these theories and models to recommend policies or to make decisions to improve economic outcomes, they are acting as policymakers.

When Economists Are Trying to Explain the World They Are