Designing fast trains to wrong stations. BTW, kudos to any environmental economics student who recognizes the problem with the first sentence in the abstract.
Well, THEY may say they are surprised, but … “Interestingly, we find that these measures are only weakly, if at all, associated with the likelihood of being hired, suggesting considerable scope for improving teacher quality through the hiring process.” Those measures include performance in college and performance on a mock teaching lesson.
What happens when you substantially raise the marginal tax rates on entrepreneurial effort and innovation? Ummm … nothing to see here. But that’s not how Americans will respond, after all, these disincentives are happening in …. Norway.
Yet another macroeconomic trilemma: you can have big finance, financial bailouts and fiscal demand management policies together in unicorn-world. On earth, pick two.