Template-type: ReDIF-Paper 1.0
Author-Name: Paul Klemperer
Author-Email: paul.klemperer@economics.ox.ac.uk
Author-Workplace-Name:Nuffield College, Oxford
Author-Workplace-Homepage:http://www.nuff.ox.ac.uk/
Title: Using and Abusing Economic Theory
Abstract:
  Economic Theory is often abused in practical policy-making. 
  There is frequently excessive focus on sophisticated theory
  at the expense of elementary theory; too much economic knowledge 
  can sometimes be a dangerous thing.  Too little attention is paid
  to the wider economic context, and to the dangers posed by political 
  pressures.  Superficially trivial distinctions between policy 
  proposals may be economically significant, while economically 
  irrelevant distinctions may be politically important. 
  I illustrate with some disastrous government auctions, but also 
  show the value of economic theory.
Classification-JEL:A11, B4, D44, L96
Length:30 pages
Creation-Date: 2002-12-01
Number:2003-W02
File-URL:http://www.nuff.ox.ac.uk/economics/papers/2003/W2/usingandabusing.pdf
File-Format: application/pdf
Handle: RePEc:nuf:econwp:0302