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Category Archive for 'Methodology'

In Today’s News …

Even in a casual conversation, 2, 3 and 6 happened today and yesterday. Joy.  

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To appreciate the state of the “debate”, replace every use of the term “climate change” in a debate with “Genetically Modified Organisms.” If an economist dares to speak on climate change, lighting bolts will descend upon her from the heavens and the fires of Hades will engulf her from below If you see the word […]

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We would evaluate their success based on how well they could be fit to past economic observations. To the theory nerds out there, do you know of ANY economic models that have not, ex post, been able to back-forecast what has already happened?

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My faith in humanity is being regularly rocked, but perhaps that is just too much of an overreaction to current events. But for the sake of intellectual consistency, will those folks delighting in the tarring of the entire classical liberal program through dark and nefarious long arcs of the work of James Buchanan now be […]

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Saturday Pro Tip

As you are chugging your Hatorade … just because someone is providing a commentary on the means, that is not synonymous with a commentary on the ends. Enjoy your weekend.

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In our measures of welfare in economics, we pay careful attention to the impacts an exchange has not just on those parties who are involved in the exchange, but also to third parties who may be receiving benefits or incurring costs as a result of Person A exchanging with Person B. What economics tends to not do […]

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Election Observation of the Day

Of course from the always worth pondering Scott Alexander, easily my favorite blogger on the world-wide-interweb: If a Trump victory tomorrow would convince you that X is true, I suggest that you believe X is true regardless of whether or not Trump wins, because Trump’s victory almost certainly will depend more on noise than on […]

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Arnold Kling relaying Noah Smith relaying the state of the economics profession. I do not disagree. In a related essay, Smith argues that the current debate in economics is between the center-left and the radical left. The New Center-Left Consensus is attractive to academics and policy wonks. It draws on an eclectic mix of mainstream […]

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To proclaim that there is no truth, that there is not even a scintilla of objective reality, is to exercise a phenomenal degree of privilege, no? This is to suggest that there is no way to obtain more knowledge about a topic. So when it comes to the workings of the price system and a […]

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I tend to think this is a major problem on college campuses, but suspect it is a more general problem. Briefly, if you think about how progressively liberal a college campus is, and the human tendency to want to be accepted, it should not be a shock that you do not often see lots of […]

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