Fraters Libertas

Keepin' It Dismal

As a rule, economists are not often the subject of heated and passionate debate. But in China these days, they've taken center stage. Unfortunately, it's more of a bull's-eye than a spotlight. We start with an editorial in the China Daily called, Internet war on economists lesson for many:

As a class war is being waged in the ghettos of French cities, another class war, as it were, is being waged on the Chinese Internet - and is teaching us a lesson about where reforms may need to be stepped up.

The Chinese war is the war against "mainstream economists." There are many definitions for that phrase, from apologists for the rich to lazy bones in research.

They does pretty much covers the range for economists, don't it? Now where would King fall?

Some overseas Chinese academics are taking advantage of this event to promote themselves. Someone reportedly declared that there are no more than five top-notch economists on the Chinese mainland. Although he later reportedly retracted some of his words, there are already different versions of mainland economists' rating lists.

Already more than 90 per cent of Chinese Internet surfers have agreed with the poor assessment of economists, according to a survey on a major news portal.

We know how unreliable those internet polls are. Still, that ninety percent's gotta hurt.

The picture may get messier when more individuals and journalists add fuel to the debate. Soon enough, I am afraid, more personality attacks may be involved. The debate will degenerate into a boring game of mud-slinging and name-calling under hollow moral slogans.

We are still talking about economists here, right?

More from another editorial on the same subject (two editorials on economists on the SAME day?) in the Shanghai Daily:

ON October 26, Ding Xueliang, a professor of sociology at Hong Kong University of Science and Technology said that there are no more than five economists, in the real sense of the word, in China.

In his view, a true economist treats the economy as a subject rather than as a way to get rich or become famous.

The latter undoubtedly being the reason that most enter the field. That and the chicks.

But many so-called economists in China today are so concerned about looking after their own personal interests that they've neglected to obey the basic work ethics that go with being an economist.

Economists have a work ethic?

Although his conclusion seems to be too absolute, there's still some truth in it. And that poses a question: Should economists pursue fame and wealth? And, if so, to what extent?

A better question would be, what the hell are they smoking if they think being an economist is the way to pursue fame and wealth?

According to a survey conducted by InsightCN, an online research corporation, 89.5 percent of people surveyed believed that it is all right for economists to seek a better life, but they should at least maintain their conscience.

Economists have a conscience?

But the fact is that we have seen many economists acting as public speakers on behalf of certain companies or institutes just for their own interest. Even in such a stagnant Chinese stock market, there are still economists urging the public to buy certain stocks and promising them certain profit.

Or hawking Iraqi Dinars on the radio. Have they no sense of shame?