How economic insights could regain a place in the public debate
The Netherlands is facing major societal challenges, such as climate change, the stalled housing market, an ageing population and lagging labour productivity. At the same time, there seems to be little attention in the political debate for these problems and economic insights are often ignored. How can economists once again make a full contribution to the public debate? That question was central to a roundtable discussion on 23 October.
Author: Yrla van de Ven
It is important that economists and business professionals make their voices heard now, offering an alternative viewpoint and a vision for the future in these times of social unrest. Economists and business experts can provide insights into complex economic and organisational challenges that often underlie social tensions. A group of ten economists therefore convened to discuss their concerns and ideas. In the coming months, they will take on a leading role within the faculty and facilitate further knowledge exchange among researchers.
In this article, we highlight the most important insights and ideas that were discussed during the roundtable discussion.
Due to the short-term focus of politics and media, major societal issues remain unaddressed.
Political disruptions and lack of long-term vision
It is striking that economists are being listened to less and less. The media are focussing increasingly on rhetoric while ignoring the actions of politicians. As a result, scientific insights are losing their significance in the political arena. Economists can analyse what goes wrong, but their influence on final decision-making is limited.
Due to the short-term focus of politics and media, major societal issues remain unaddressed. Increasing fragmentation and polarisation in politics make it difficult for economists to contribute effectively to policymaking. Many problems stem from strategic political decisions rather than economic laws.
The role of economists
As one participating researcher put it, economists seem to be sidelined in the public debate at the moment. The climate crisis, the housing market and the ageing population all require a long-term approach. Economists have ideas, but at the moment there is little political interest in those ideas.
In addition, there are problems that are not even recognised, such as an ageing population, labour market shortages and the declining quality of public services.
The societal debate within academia
Universities have a role in public discourse. Researchers have the opportunity to speak out and should not shy away from doing so. They can write short, rhetorically powerful pieces that spark debate.
In addition, it is important to have more societal debates within the faculty, so that researchers remain informed about political developments and can collectively propose new societal ideas and research projects. At the beginning of the century, the Council of Economic Advisors (2005-2008) was active, consisting of representatives from all Dutch economics faculties, who came together to provide advice on societal issues. This proved to be successful: they were able to reach consensus on their recommendations, and their advice received media attention. The Council provided advice on topics such as innovation, economic growth and the housing market. One of the participants proposed reviving such a council.
Researchers have the opportunity to speak out and should not shy away from doing so.
The role of students and the younger generation
It is also important to more actively involve students and young academics in the societal debate. Students and researchers can come up with ideas together that align with the lived experiences of young people. Students often approach issues with a fresh, open mind and an inquisitive attitude; they are less likely to accept that things are 'just the way they are' and tend to ask critical questions.
Researchers could collaborate with students to create 'pamphlets' on societal topics. Additionally, they could organise debates and lectures around specific themes. This could enhance the faculty’s visibility and researchers could help build a bridge to the younger generation.
Action
Within the faculty, there is a strong sense that economists should play a greater role in the public debate. Although political and media-related obstacles are clear, there is a widely shared desire to take greater responsibility and actively contribute to solving urgent societal challenges. In the coming period, the economists within the faculty, together with colleagues and students, will engage in discussions and write pamphlets with colleagues and students on various topics, such as climate change, the housing market, democratic processes, and an ageing population, while actively reaching out to the media.
Students and researchers can come up with ideas together that align with the lived experiences of young people.
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