Theories and practices of economics with innovation in between

Comments on Shaun Vahey "Academics v practitioners: split views within the Shadow Board", 4/12/2012, https://theconversation.edu.au/academics-v-practitioners-split-views-within-the-shadow-board-11110

The views of both practioning and academic economists are "should be", though they may have different perspectives in their thinking.


The academic economists there may have a too theoretic focused and may be a little too rigid and inflexible. In their mind, it is all theories that matter. If it is not in accordance to the theories, they cannot be. But the Fed has operated on a non conventional basis for quite sometime and that points out the potential shortcomings with the academic macroeconomists (their thinking).

Practitioning economists may be too affected by the markets.