- The Oxford Handbook of Professional Economic Ethics
- Introduction, or Why This Handbook?
- The <i>Skin-in-the-Game</i> Heuristic for Protection Against Tail Events
- The Ethics of Economic Decision Rules
- In Praise of Imperfect Commitment: An Ethic of Power, Professionalism and Risk
- “Econogenic Harm”: On the Nature of and Responsibility for the Harm Economists Do as They Try to Do Good
- About Doing the Right Thing as an Academic Economist
- The Social Responsibility of Economists
- The Ethical Economist: Duty and Virtue in the Scientific Process
- Ethics in Relation to Economics, Ecology, and Eschatology
- Poisoning the Well, or How Economic Theory Damages Moral Imagination
- Economists’ Odd Stand on the Positive–Normative Distinction: A Behavioral Economics View
- The Complex Ethical Consequences of “Simple” Theoretical Choices
- Good, Evil, and Economic Practice
- Alternative Ethical Perspectives on the Financial Crisis: Lessons for Economists
- Economists’ Ethics in the Build-Up to the Great Recession
- Ethics and Advances in Economic Science: The Role of Two Norms
- The Meaning of <i>Deceive</i> in Experimental Economic Science
- Honesty and Integrity in Econometrics
- Lady Justice Versus Cult of Statistical Significance: Oomph-less Science and the New Rule of Law
- Balancing Risk and Benefit: Ethical Tradeoffs in Running Randomized Evaluations
- Conducting Ethical Economic Research: Complications from the Field
- The Unprincipled Randomization Principle in Economics and Medicine
- Professional Disequilibrium: Conflict of Interest in Economics
- Considerations on Conflict of Interest in Academic Economics
- Ethics, Economic Advice, and Economic Policy
- Neoclassical Economics as the New Social Engineering: The Debacle of the Russian Post-Socialist Transition
- The Ethics of Economic Development and Human Displacement
- How Can We Better Address the Gaps in our Knowledge about Development Effectiveness?
- Confessions of a Policy Analyst
- Ethics and the Government Economist
- The Ethics Problem: Toward a Second-Best Solution to the Problem of Economic Expertise
- First Tell No Untruth
- Ethical Issues in Forensic Economics
- Exposure and Dialogue Programs in the Training of Development Analysts and Practitioners
- Ethics and Learning in Undergraduate Economics Education
- Creating Humble Economists: A Code of Ethics for Economists
- Codes of Ethics for Economists, Pluralism, and the Nature of Economic Knowledge
- Author Index
Abstract and Keywords
Conflicts of interest in the economics profession received attention after the Great Financial Crisis of 2008. There is evidence that some academic economists hold one or more significant financial interests in addition to their university positions. We argue the economics profession must adopt and codify rules to deal with potential conflicts of interest. Economists should disclose all potential conflicts of interest in their publications, presentations, interviews, and in Congressional testimony. The economics profession must delineate situations when disclosure is not sufficient and complete avoidance of the conflict of interest must occur. For conflicts of interest policies to be effective, disclosure and avoidance requirements need to be monitored and enforced. In lieu of a licensing agency, this can be accomplished by a combination of university conflicts of interest policies, a professional conflict of interest policy, rules by journals, such as those published by the American Economic Association, and research organizations, such as the National Bureau for Economic Research.
Jessica Carrick-Hagenbarth is a doctoral candidate at the Department of Economics at University of Massachusetts, Amherst.
Gerald Epstein is Professor of Economics and Department Chair of the Department of Economics at University of Massachusetts, Amherst and Co-Director of the Political Economy Research Institute (PERI) at University of Massachusetts, Amherst.
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