Economics profession is a disgrace, says ex-Fed staffer
◆ A former US Federal Reserve economist has said her profession is a “disgrace” and launched a stinging attack on leaders in the field for alleged racism, sexism and elitism, writes
Claudia Sahm said she was ashamed to be associated with the industry in a 6,000-word blog post.
Ms Sahm, who was also a member of Barack Obama’s Council of Economic Advisers, said: “We hurt economists from undergraduate classrooms to offices at the White House. We drive away talent. We mistreat those who stay, and we tolerate bad behaviour. Economics is a disgrace.”
She also rounded on senior male economists for making hostile attacks towards junior female economists on Twitter.
Ms Sahm said: “Our hyper-competitive field allows point scoring over scientific inquiry.
“Efforts to change our culture are cheap talk if we do not act.”