Curious that you say that economics, which should be quantitative, doesn’t involve a lot of math. That strikes me as a flaw. Why isn’t it math-heavy? What use is it when it isn’t quantitative? If I can’t plug numbers in and get numbers out, am I left with anything other than a collection of just-so stories with no ability to judge which is more applicable in any given situation?
The most valuable part for politicians is understanding that incentives matter, and the ideas of public choice theory, the concept of regulatory capture and the like. These don’t require any facility with numbers. They inform decision making and direct the design of institutions.
Curious that you say that economics, which should be quantitative, doesn’t involve a lot of math. That strikes me as a flaw. Why isn’t it math-heavy? What use is it when it isn’t quantitative? If I can’t plug numbers in and get numbers out, am I left with anything other than a collection of just-so stories with no ability to judge which is more applicable in any given situation?
The most valuable part for politicians is understanding that incentives matter, and the ideas of public choice theory, the concept of regulatory capture and the like. These don’t require any facility with numbers. They inform decision making and direct the design of institutions.