Why don't Economists become Politicians?

Question

Any country would be so much better then, after all don't we want a leader to improve our economy and not be a politician who lies for their personal gain?

Answer 1

An intelligent Economists who has some insight of politics as well can be a best leader for his nation..........example is indian prime minister Mr.Manmohan Singh who is an economist and after being elected as prime minister, indian economy has raised greatly and now they have fastest growing economy ! Another example is that of Pakistani prime Minister Mr.Saukat Aziz who has stabalized Pakistani economy.........but ofcourse we can not generilze this for all economist !

Answer 2

Canada's Prime Minister Stephen Harper has a masters degree in economics. So some economists actually do become politicians.

But my question is, why do you think economists can find the solution? Economics is far from a real science. There are too many assumptions required for most of the economic models. Some fundamental, basic assumptions of economics are being attacked by some experimental economists. And I guarantee you that if you ask 3 economists the same question you will get more than 3 answers (sometimes all beginning with the words 'It depends....").

Even if you accept that all the efficiency problems can be solved by economics, the other important part of economics, equity, is unlikely ever to have 'a' solution.

BTW, I love economics, think it's one of the most important subjects to understand and to be involved in.

Peace

Answer 3

Politicians HIRE economists, they don't need to BE economists. Economists themselves are unelectable. Winning elections takes social skills and appearances, being a good economist does not. Speaking harsh economic truths in a campaign will not make a candidate very popular. This is why chair of the federal reserve is a lifetime appointment, good economic policy cannot be wavering with every little shift in the political wind.

Also, there is a lot more to making good policies then any economist knows about. If you care about culture, justice, peace or security, what makes you think an economist knows anything about these things? I strongly disagree with the idea that gov'ts only role is to maximize the ability of businesses to produce.

Answer 4

Supply & Demand.

An economist understands that a position as a politician is limited to 4-8 years in each position. Should they become president, they max they could help is 4-8 years.

However, the Chairman of the Federal Reserve has an appointment of 12 years and unlimited appointments. Why would an intelligent economist want a short term job when they can make real influence with a real job?

Answer 5

Basically, it's probably not more widespread because high-level economists are not always the most charismatic people in the world. Also, while the economy is certainly an important issue, it is not the only issue, and we want politicians who have diverse backgrounds so that they reflect the make up of the population. Politicians have economic advisers (the US President has his own group of advisers, then there is the Federal Reserve whose leaders advise Congress at times). There is also the fact that economics is not an exact science. Very accomplished, respected economists can disagree at times when recommending or judging economic policy.

Answer 6

Probably because they're too intelligent. ;) Seriously, though, I think that anyone who is an economist probably doesn't have the expertise in all the areas necessary to be an effective political leader. Political leadership requires (in most cases, anyway) a degree of diplomatic skill, as well as other qualities. Professional economists would tend to see things in black and white, and not the shades of gray which exist in the world.

Answer 7

b/c economics is about numbers, and politics is about words.
So an good economist is not very likely to win an election.

Besides, economics training alone is not enough to run the country - you need sociology and international relations too.