Passionate Conservatism

Ec 10, one of the premier classes of the undergraduate Harvard education, will face a fork in the road this fall when Baker Professor of Economics Martin S. Feldstein ’61 ends his 21-year stint atop the course. Handing the reins to Freed Professor of Economics N. Gregory Mankiw, the economics department has chosen the correct path for the course, regardless of the gripes of liberal opponents. Ec 10 undoubtedly presents a conservative view of the world to its many students, but it is a classical economic approach. Thus, Mankiw’s intention to inherit the course and teach it with changes that are more “evolutionary than revolutionary” is in the best interest of the Ec 10 institution and the thousands of future undergraduates who will enroll in the course.

Economics, as a social science, is innately biased to the right under today’s definition of what is conservative. Students should understand that through an economic lens, analyses of certain situations conflict with liberal and at times even moderate viewpoints. Yes, in an economy without externalities, taxes will create a dead weight loss and are therefore harmful to the economy. As a result, students in an introductory economics class ought to be taught that taxes are, in fact, bad. We are pleased that Mankiw has shown no intentions of caving into critics of this “conservative” approach.

However, we do see room in Ec 10 for the incorporation of some more liberal viewpoints. The supplemental readings component of the course ought to involve a more balanced array of authors, giving students a fair understanding of the theoretical spectrum. It cannot hurt students to be exposed to a greater variety of opinions. For example, there should be articles that explain situations where taxes may actually help people, albeit not the overall economy. We have faith that Mankiw will be able to provide the necessary balance (while still weighted to the right) that will help Ec 10 live up to its status as the most popular—at least in terms of enrollment—undergraduate course.

No matter the direction Ec 10 takes, Harvard will continue to be a liberal institution. Nearly all departments lean to the left, and it is healthy to have at least the economics department trying to balance the academic environment. The Faculty features a majority of liberal professors, resulting in liberal teaching. This has even extended into the realm of introductory economics at Harvard. In the fall of 2003, a supposed leftist version of Ec 10, Social Analysis 72, was introduced into the course catalog. The historically sound institution of Ec 10 must not succumb to a similar fate. As a result, we should both accept and welcome the fact that Ec 10 will continue to be taught with a conservative approach, by a conservative professor—who literally wrote the book on the subject.