How some economists make money
(Shanghai Daily)
Updated: 2005-11-15 09:16

On October 26, Ding Xueliang, a professor of sociology at Hong Kong University of Science and Technology said that there are no more than five economists, in the real sense of the word, in China.

In his view, a true economist treats the economy as a subject rather than as a way to get rich or become famous. But many so-called economists in China today are so concerned about looking after their own personal interests that they've neglected to obey the basic work ethics that go with being an economist.

Although his conclusion seems to be too absolute, there's still some truth in it. And that poses a question: Should economists pursue fame and wealth? And, if so, to what extent?

According to a survey conducted by InsightCN, an online research corporation, 89.5 percent of people surveyed believed that it is all right for economists to seek a better life, but they should at least maintain their conscience.

But the fact is that we have seen many economists acting as public speakers on behalf of certain companies or institutes just for their own interest. Even in such a stagnant Chinese stock market, there are still economists urging the public to buy certain stocks and promising them certain profit.

So, how can we rely on what economists say when they are speaking and acting out of their own interest other than that of the public?