Economists, despite agreeing on competition's merits, have concentrated accolades within a handful of elite institutions, diminishing the diversity of thought and ultimately impacting societal engagement.
The Nobel Prizes in economics show a stark concentration of recognition, nearly five times more constrained than fields like chemistry, suggesting a troubling insularity in our profession.
This monopolization in economics is a significant factor for our profession becoming increasingly disconnected, reinforcing the idea that we lack focus on positive real-world impacts.
Unlike hard sciences where ideas are evaluated objectively based on outcome, economics prizes reflect an increasing obsession with status over practical implications, alienating the public.
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