Edward Nik-Khah

Neoliberal pharmaceutical science and the Chicago School of Economics.

In recent years, science studies scholars have critically examined several methods used by the pharmaceutical industry to exert control over knowledge about drugs. Complementary literatures on ‘medical neoliberalism’ and ‘neoliberal science’ draw attention to the economic ideas justifying such methods of organizing knowledge, and in so doing suggest that neoliberal thinkers may play an important role in developing them. As yet, the nature of this role remains unexplored. Relying on heretofore-unexamined archival evidence, this article establishes a direct link between the Chicago School of Economics and the mobilization of the pharmaceutical industry in the 1970s. It argues that economists affiliated with the Chicago School of Economics sought to influence pharmaceutical policy and science and constructed institutions to do so. These institutions – most notably the Center for the Study of Drug Development – remain highly influential. This article contributes to a historical understanding of how neoliberal ideas came to assume prominence in pharmaceutical policy, the management of science, and scientific practice.

The making of the economy: a phenomenology of economic science

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Inland empire: economics imperialism as an imperative of Chicago neoliberalism

Recent work such as Steven Levitts Freakonomics has prompted economic methodologists to reevaluate the state of relations between economics and its neighboring disciplines. Although this emerging literature on ‘economics imperialism’ has its merits, the positions advanced within it have been remarkably divergent: some have argued that economics imperialism is a fiction; others that it is a fact attributable to the triumph of neoclassical economics; and yet others that the era of economics imperialism is over. We believe the confusion results in part from a lack of historical understanding about the nature and aims of economics imperialists. We seek to improve historical understanding by focusing on the activities of a cadre of economists at the epicenter of economics imperialism, the University of Chicago. These activities – led, in the first instance, by Aaron Director and, in the second, by George Stigler – stemmed from the effort to forge a new liberalism or a ‘neoliberalism.’ We then consider Steven Levitts Freakonomics in light of the insights gained from our historical study. Our analysis leads us to question each of the three positions on economics imperialism held by economic methodologists.

Private Intellectuals and Public Perplexity: The Economics Profession and the Economic Crisis

We explore recent arguments that economists may not serve to enlighten their publics so much as foster surplus confusion and doubt concerning controversies in their areas of expertise, particularly with regard to the recent worldwide economic crisis. After describing agnotology, the new area of the history of science that studies such phenomena, we recount two instances of these activities: the role of market designers in the framing and justification of the Troubled Asset Relief Program, and the manufacture of the now-widespread impression that Fannie Mae and Freddie Mac were a primary cause of the crisis.

Introduction to the Symposium on the Contributions of Business to Economics

Historians of economics have largely overlooked the role of businesses in the formation of economic ideas. Indeed, this is true even of historians who are most attuned to the crucial role non-economists have played in shaping the ideas and practices of economics. For example, in his (1999) essay: “How should we write the history of twentieth-century economics?” Roy Weintraub omits any mention of the role of businesspersons. In keeping with his own work, Weintraub urges historians to examine not only the theoretical ideas, but also how these ideas have been translated across the economics profession into communities comprising administrators and policymakers. He emphasizes: “Discussing economic thought in the twentieth century from this perspective would encourage writing histories of eleemosynary foundations, government agencies, political organizations, private political advocacy groups, and a whole range of journalistic practices and news-reporting strategies” (148). We suggest that businesses should be added to Weintraub’s list. This is not to suggest that historians have not examined the business-economics nexus because they certainly have, primarily in two ways.

‘Power to the people’: A reply to Healy, Mangin, and Applbaum

In challenging one portion of the history presented in my article, Healy et al. argue that Louis Lasagna was a ‘classical liberal’ who sought only to increase the scientific stature of the physician–patient encounter. They advance this interpretation to encourage science and technology studies scholars to heed Lasagna’s ideas about how to organize the medical marketplace. I argue that Healy et al. mischaracterize Lasagna’s ideas. I conclude with an example of these ideas being put into practice, Lasagna’s efforts on behalf of Wyeth in the approval and marketing of Redux and Fen-Phen.