Nevertheless, there is an impressive amount of agreement on many
aspects of how the economy works and what happens when governments
intervene to alter its workings. A survey published in the American
Economic Review, perhaps the most influential economics journal, showed
strong agreement among economists on many propositions, including
“Rent control leads to a housing shortage” (85 percent yes), “Tariffs
usually reduce economic welfare” (93 percent yes), and “A minimum
wage increases unemployment among young workers” (79 percent yes).
Notice that all these are positive rather than normative statements. Other
examples of these areas of agreement will be found in many places
throughout this book.
Whether they agree or disagree with one another, economists are in
demand in many sectors of the economy. See Applying Economic Concepts
2-1 for a discussion of the many organizations that employ economists.
Applying Economic Concepts 2-1
Where Economists Work
This chapter discusses the theoretical and empirical tools that
economists use. After reading this material, you might wonder
where economists find jobs and what kind of work they actually
do. The skills of economists are demanded in many parts of the
economy by governments, private businesses and Crown
corporations, non-profit organizations, and universities.