by Shreya Joshi (Third Year Economics Student)
We take inspiration from anywhere, a lecturer, friend, parent, even someone we meet on the bus, and that is the beauty of learning, it doesn’t matter whom, we grow and we learn. So why in the discipline of economics can we not take inspiration from anywhere? Why do we tend to rely solely on a few opinions of those from the same background? These are just a few criticism’s of today’s world of Economics.
As an Indian, female Economist I struggle to ignore the criticisms against the discipline of Economics. Whilst I have a passion for the subject and all of its opportunities, strong theories and knowledge, I have to question why there is often a lack of representation from a more culturally diverse group of economists in my assigned academic readings and even in textbooks. Could it just be that there are only very few economists from these backgrounds or is this just a result of how I’m taught and the influences that are drawn on? If it is the latter, I can imagine that this has considerable influences on the society in general if diverse perspectives are not so readily accounted for.
When I read textbooks and some of the most prevalent theories that run through the core roots of the subject, I immediately begin to recognise the stereotypical way in which ethnically diverse figures are portrayed in them. White males are seen to be at the top of the hierarchy of the business/policy world while members of other ethnic groups, when rarely mentioned, are placed in more lowly positions or jobs such as a cleaners or shop workers.
However, in saying this, my diverse experience and background is one of the reasons I decided to study economics. Being the only student from a South Asian and British background during my secondary education afforded me with the opportunity to bring unique and different perspectives – in how I viewed the world and my understanding of various economic regimes – more than most of my peers.
Now, at UEA, learning from vastly different cultures gives me a new skillset, allowing me to comment on mistakes and successes of other countries to extend my knowledge beyond traditional Economic models. I consider how consumers from different backgrounds act and therefore how policies will affect them differently. Bringing diversity to economics has given me a much broader and more interesting view of my subject that I believe everyone, even the world’s top economists, would benefit from. Being able to compare contrasting economies, contribute differing opinions and bring new discussion to the table would improve economic modelling and help economics progress past other disciplines.
Amongst the negativity, we mustn’t ignore the progression (even if it is slow). The UK parliament is currently at the most diverse it has ever been, and the new IMF Chief Economist is not only a woman but is Indian. Gita Gopinath is a personal inspiration of mine. As one of the world’s leading economists, discrimination has never been a barrier to her success which include being a John Zwaanstra Professor of International Studies and Economics at Harvard University. She believes that if you are successful in your area no one will discriminate against you.
Gopinath although a huge inspiration to me, I would still question her views on success trumping discrimination. Although she is adopting a positive mind-set, unfortunately life is just not that simple. Economics as a whole is in need of a reform starting from the way it is taught. In any case, I am pleased to see that my experiences have been beneficial in my studying to become an economist. However, there are others who may be discouraged to study economics if it is, as is often the case, taught from a uni-dimensional perspective. Bringing diversity to Economics will not only make it a more progressive discipline, but a more exciting and insightful one.