More Insight

Sunday, September 16, 2007

Clinical Economics

Jeffrey Sachs argues that development economics needs to be more clinical - that the process of assessing and treating an economic malady needs to resemble more the rigor, insight and practicality of modern medicine. Economics needs new tools to address the new issues we face in the 21st century, requiring better development of the underlying science as well as the systematization of where that science is brought to bear on a particular "patient." Sachs argues for the implementation of the differential diagnosis in solving modern developmental disparities. The differential diagnosis checklist for economics includes taking an appropriate history of several elements, including the policy framework, physical geography, cultural barriers and geopolitics.
I would argue the application of the scientific process to not only economics, but also the other social sciences that impact our daily lives. Every aspect of governance should undergo the same examination and scrutiny that is the scientific foundation of modern medicine. Why shouldn't the same standards of quality assessment and verification be applied to the other spheres of human life that affect us just as much or more as medicine does? Why shouldn't we apply the differential diagnosis?

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