Wednesday, September 21, 2016

Paul Romer — Trouble with Macroeconomics, Update

One suggestion is that it would have been better if I had written one of those passive-voice “mistakes were made” documents that firms issue after a PR disaster.
I name names because this is how science works. The standard practice calls for an individual to put his or her reputation behind a claim; to listen to the claims that others make; and to admit that the claim is false when this is what the evidence shows. I did try to restrict my criticism to people who have received Nobel Prizes in Economics or to Smets and Wouters, who have received wide recognition for their work, so it is not like I’m picking off the stragglers at the back of the head.
And I hope we can agree that if we go too far in the direction of passive-voice science we are not going to be happy about ending up with anonymous-sewer-science.…
Getting serious in the economics profession and redefining VSP (Very Serious Person).

Paul Romer Blog
Trouble with Macroeconomics, Update
Paul Romer, chief economist at the World Bank


Matthew Franko said...

"that ridicules post-real macroeconomics and hurt’s some feelings"

He's going Trumpian....

Better watch out the economists are going to start to demand safe spaces....

MRW said...

'Mistakes Were Made (But Not by Me): Why We Justify Foolish Beliefs, Bad Decisions, and Hurtful Acts
by Carol Tavris (Author), Elliot Aronson, March, 2008
Good book.