Paul Krugman

@paulkrugman ↗

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Last Checked Nov. 19, 2021

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Mon Oct 11 13:50:27 +0000 2021

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Paul Krugman @paulkrugman

Why does the new methodology seem, more often than not, to support center-left policies? One reason is that conventional wisdom in economics tends to overstress incentive effects and market competition, bc that's what we understand 8/ — PolitiTweet.org

Posted Oct. 11, 2021

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Paul Krugman @paulkrugman

Most recently, the ups and downs of expanded unemployment benefits, plus the decision of some but not all states to cut off these benefits early, lets us assess the impact of UI on employment — and such studies find little effect 7/ — PolitiTweet.org

Posted Oct. 11, 2021

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Paul Krugman @paulkrugman

In other words, the field tends to suffer from 101ism, the urge to interpret the world in terms of what you learn in the first few chapters of the textbook. Empirical evidence, however, often finds that the complexity of the real world resists 101ism 9/ — PolitiTweet.org

Posted Oct. 11, 2021