The Influence of Economists on Public Attitudes toward Government

Abstract

One of John Maynard Keynes's most quoted statements (1935, p. 383) is:

… the ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist.

The number of economists per capita in the United States has risen in the past few decades. At the same time, the public has become more comfortable with big government. This raises intriguing questions regarding just how economists are influencing public opinion; we are left wondering whether economists are instilling a desire in the public for more government or whether, in opposition to Keynes's statement, economists are losing influence. In this paper, we provide some answers. We find that the increased role of economists in society and in policymaking has led to an increase in favorable attitudes toward government intervention.