This sentence of yours probably captures the heart of our disagreement:
If you can’t do it well, it’s generally still better to do it badly than not at all.
We don’t seem to disagree that much about the limitations of knowledge in this whole area, epistemologically speaking. Where we really part ways is that I believe that historically, the whole edifice of spurious expertise produced by macroeconomists and perpetuated by gargantuan bureaucracies has been an active force giving impetus for bad (and sometimes disastrous) policies, and that it’s overall been a step away from reality compared to the earlier much simpler, but ultimately more realistic conventional wisdom. Whereas you don’t accept this judgment.
Given what’s already been said, I think this would be a good time to conclude our discussion. Thanks for your input; your comments have, at the very least, made me learn some interesting facts and rethink my opinions on the subject, even if I didn’t change them substantially at the end.
(Oh, and you’re right that I confused cost and value in that point from my above comment. I was indeed trying to be a bit too much of a smartass there.)
This sentence of yours probably captures the heart of our disagreement:
If you can’t do it well, it’s generally still better to do it badly than not at all.
Yes, I think so. It’s not that I think that macroecoonmics has covered its self in glory, it hasn’t. But this really is literally the only way to learn for those guys. And I believe it’s worth it in the short run, though I’m less sure of that, than I was before we started this. Maybe those macro guys should go try micro or something.
Given what’s already been said, I think this would be a good time to conclude our discussion. Thanks for your input; your comments have, at the very least, made me learn some interesting facts and rethink my opinions on the subject, even if I didn’t change them substantially at the end.
This sentence of yours probably captures the heart of our disagreement:
We don’t seem to disagree that much about the limitations of knowledge in this whole area, epistemologically speaking. Where we really part ways is that I believe that historically, the whole edifice of spurious expertise produced by macroeconomists and perpetuated by gargantuan bureaucracies has been an active force giving impetus for bad (and sometimes disastrous) policies, and that it’s overall been a step away from reality compared to the earlier much simpler, but ultimately more realistic conventional wisdom. Whereas you don’t accept this judgment.
Given what’s already been said, I think this would be a good time to conclude our discussion. Thanks for your input; your comments have, at the very least, made me learn some interesting facts and rethink my opinions on the subject, even if I didn’t change them substantially at the end.
(Oh, and you’re right that I confused cost and value in that point from my above comment. I was indeed trying to be a bit too much of a smartass there.)
Yes, I think so. It’s not that I think that macroecoonmics has covered its self in glory, it hasn’t. But this really is literally the only way to learn for those guys. And I believe it’s worth it in the short run, though I’m less sure of that, than I was before we started this. Maybe those macro guys should go try micro or something.
Same here, it’s been fun.