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(Bloomberg)   Economists agree on most major macroeconomic issues - it's politics that makes it appear otherwise   ( divider line
    More: Obvious, U.S., Ramesh Ponnuru, Arthur Laffer, mainstream economists, Jeffrey Goldberg, economics  
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1682 clicks; posted to Politics » on 24 Jul 2012 at 11:14 AM (5 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2012-07-25 04:59:04 AM  

BigJake: fusillade762: I don't see it on there...

it's a hybrid of applied psychology and math

economists think it's more of the latter when it's actually more of the former

Reading the comments on the questions from the IGM experts forum, it's interesting to see how these economists, all very prestigious, think in different ways.

For example, ask the question, "will the current such-and-such be bad for the economy," you might get different types of answers:

1. "I couldn't accurately quantitize 'will', 'such-and-such', 'bad', or 'economy' in my chalkboard-filling math equation, so the solution remains indeterminate."
2. "Most of the data collected suggests it is bad, so it's probably bad."
3. "Of course it's bad! It's a fundamental rule that it's always bad when such-and-such takes place!"
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