Excerpts from book reviews of

What Do Economists Contribute?


A Student's Guide to Economics:
" [A] collection of nine essays by distinguished economists, prefaced by [an] illuminating introductory essay. Anyone who is considering the possibility of specializing in economics ought to read this small but richly rewarding book, in which thoughtful economists reflect on what the profession does and what it ought to be doing."

  — Paul Heyne, University of Washington

Reviewer’s Bookwatch (March 2000): "[The book contains] outstanding essays from nine great economists of this century . . . the result is a lively, informative, engaging discourse . . . [The book] is highly recommended reading for lay readers as well as students of economics, and has a great deal of substantive value for even experienced, practicing economists."

Ideas on Liberty (July 2000): "In What Do Economists Contribute? [the writers] try to explain just how economists contribute to the betterment of mankind. Although the title implies that the book is directed to students and intelligent laymen who would otherwise not know the answer, the book is aimed just as much at professional economists themselves. All three groups, especially undergraduates contemplating graduate study in economics, will be fascinated and perhaps troubled by what they read."

— Philip R. Murray, Webber College

Review of Austrian Economics (2000) "The collection is extremely valuable in its own right and [the] introduction helps motivate [the] choice of readings and instill a sense of thematic purpose."

— Robert F. Mulligan, Western Carolina University

Le Figaro (19 January 2001): "Les textes colligés par Klein formulent donc trois grandes critiques à l'endroit des économistes orthodoxes : science trop formalisée, leçons élémentaires oubliées, et participation insuffisante aux débats publics. À notre avis, ces critiques doivent être nuancées, un peu comme le fait implicitement Hayek. Il n'est pas certain que la formalisation soit la source de tous les maux comme le démontre, par exemple, l'œuvre d'un Gary Becker. Si la participation de l'économiste aux débats publics est difficile à condamner, elle peut par contre jouer sur plusieurs modes différents et sur des horizons plus ou moins longs. Ces réserves étant faites, le livre de Daniel Klein fournit un outil remarquable pour réfléchir à la nature de l'économie et au rôle de l'économiste."

— Pierre Lemieux, University of Quebec

Barron's (9 July 2001): "[A] sparkling collection . . . Ronald H. Coase's essay — which ironically quotes Stigler against himself — is alone worth the price of admission. Also try the unforgettable contribution by Austrian economist Israel M. Kirzner, "Economists and the Correction of Error," which provides a useful corrective to Stigler's excessively cynical worldview."

Gene Epstein