Would you trust an economist with your economy?
Planet Money
2025/08/02
Would you trust an economist with your economy?
Would you trust an economist with your economy?
Planet Money
2025/08/02
In recent years, economists have found themselves under fire—not just for their predictions, but for the credibility of the entire profession. What was once a field trusted to guide national policy is now facing widespread skepticism. Political accusations, public doubt, and growing distrust in economic data have all contributed to a crisis of confidence in the experts who shape our understanding of the economy.
This episode explores the growing distrust in economists and its impact on their work and influence. Public trust has declined sharply, partly due to high-profile failures like the 2008 financial crisis and the perception that economists prioritize abstract models over real-world struggles. Politicians have increasingly questioned the integrity of economic institutions, and even private data faces skepticism. Economists like Diane Swonk and Aaron Sojourner discuss how this distrust affects their work, while Ben Ho offers ideas on rebuilding credibility through transparency and accountability. The profession stands at a crossroads, needing to reconnect with the public to regain its influence.
00:00
00:00
President Trump accused the BLS head of faking data without evidence
06:05
06:05
Only 25% of respondents trusted economists in a 2017 YouGov survey.
12:25
12:25
Politicizing economic data destroys public trust and decision-making capacity.
21:44
21:44
Economists are working to rebuild public trust through better communication and data transparency.
28:12
28:12
Economists should acknowledge past mistakes as part of rebuilding trust.
