Good Economists and Poor Economic Performance

Good Economists and Poor Economic Performance Ashoka Mody "THE performance of an economy is inversely related to the strength and quality of its economics profession.'' On occasions when self-deprecation is socially charming, economists are apt to quote this aphorism, implying even as they do so that its validity is limited. The lack of renowned economists in Japan (with its powerhouse performance) and the plethora of Nobel Prize-winning economists in the United States (which has barely muddled along) is an interesting observation from which not much should be inferred.