Barbadian economists need to make themselves heard

The Barbados Economic Society's July 2007 newsletter gave me a welcome surprise. In an editorial, Harold Codrington (a senior official at the central bank), calls on his fellow economists to get up and get involved. I am heartily surprised because I commented to one of the eminent Barbadian economists on the University faculty several months ago that I was really dismayed that so many issues that called out for the kind of analysis economists can offer seemed to be going on with no contribution from the profession. Mr. Codrington uses the fact that the Society will celebrate its 25th anniversary in 2008 to launch an appeal:

"The BES must not be allowed to go the way of the dodo bird. The Society needs a few good men and women to help it regain its former glory and chart a course for the future. Here is a call for all economists to join the society and make a contribution."

What is good is that he does not shrink from point the finger directly at what might have been the causes of the society's slipping from sight and possibly losing relevance. The recent loss of momentum has been caused by "an abundance of Central Bank economists on the Executive", "shifting priorities by its members", and "simple lack of interest by many economists". He adds that "Since the voice of the BES is no longer heard on the burning issues, much uninformed commentary goes unchallenged. The public’s interest is being undermined whenever this happens since it does not have a full slate of information on which to base its decisions." I could not agree more with his conclusions. But the causes he cites are very interesting.

Is the prevalence of central bank economists a barrier because they cannot express themselves freely on issues that may be at the heart of government policy? If priorities are shifting, what are economists doing that is more important that seeking to participate in debate on national issues? Have they sought to satisfy themselves with having papers published and attending conferences of their peers, but perhaps not putting research effort into issues that have any relevance to most of their fellow citizens? Most troubling, if economists have lost interest why should that be? Were they upset that no one accepted their views? Were they being harassed or threatened for speaking out?

I had heard that Barbadian economists tended to take partisan positions in the past. This is not a major surprise; finding economic support for political beliefs is very much part of how most countries work. Indeed, the partisanship should enrich the discussion. However, the expressions should be allowed to happen freely and the general public should be able to see past the partisan views. Maybe that is difficult in Barbados.

I saw that Mr. Codrington's appeal was reported in The Nation today. This may be a good spur to the profession to get up and get involved. There are many reasons why those who have had a training in economics should put their analysis at our disposal. It is particularly important to use that education to help others better understand the main issues. It's not economists alone who need to do this, but at this particular time, I feel the economists have a special role to play in setting out the issues that are shaping the Barbadian and Caribbean economies.