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HeerJeet's profile
Jeet Heer
Jeet Heer
Jeet Heer
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@HeerJeet

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Jeet HeerVerified account

@HeerJeet

1. Writer, The Nation https://www.thenation.com/authors/jeet-heer/ … 2. email: jeetheer1967 at gmail dot com 3. Twitter essayist 4. Drawn by Joe Ollmann

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Joined June 2012

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    Jeet Heer‏Verified account @HeerJeet 20 Mar 2019

    Jeet Heer Retweeted Gray Kimbrough

    Economic theory: minimum wage rise will increase unemployment. Krueger & Card: our empirical research shows this doesn't happen. James Buchanan ("Nobel" Prize winner): Economics is a science, so we have to ignore the empirical evidence & stick with what theory says. Me: LOLhttps://twitter.com/graykimbrough/status/1108403322690654208 …

    Jeet Heer added,

    Gray Kimbrough @graykimbrough
    I already respected Krueger, but knowing that he and Card upset James Buchanan this much (with their solid empirical evidence on the minimum wage that he was certain must be wrong) makes me respect him even more. pic.twitter.com/cyK95slk2f
    9:41 AM - 20 Mar 2019
    • 172 Retweets
    • 468 Likes
    • Christopher 🍋 Caoimhe 💜 Firstname bunch of numbers Liam O'Keefe Milly crlchn fred Gravitas Problem AQ
    11 replies 172 retweets 468 likes
      1. james_roe‏ @james_roe 20 Mar 2019
        Replying to @HeerJeet

        https://www.wired.com/story/econ-statbias-study/ …

        0 replies 0 retweets 0 likes
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      1. John Ross  💉 💉 💉‏Verified account @JohnRossMD 20 Mar 2019
        Replying to @HeerJeet

        Human choice behaviour is rational LOL

        0 replies 0 retweets 0 likes
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      1. New conversation
      2. Aldous Huxtable‏ @beghira 20 Mar 2019
        Replying to @HeerJeet

        Buchanan is hysterical but not entirely wrong. If economics were a science, one would expect that all observed phenomena could be explained by a set of universally-applicable axioms.

        1 reply 0 retweets 0 likes
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      1. Reginald Glenn  ♨️‏ @Britonomist 20 Mar 2019
        Replying to @HeerJeet

        That’s not what “economic theory” says except in some circumstances.

        0 replies 0 retweets 3 likes
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      2. Mike Fricker  🇨🇦 Christian Priest ASD C-PTSD 🖖 ☯️‏ @M_S_Fricker 20 Mar 2019
        Replying to @hippersons @HeerJeet

        Economics isn't a science. It uses too many assumptions and has poor predictive value. It is at best a form of historical analysis.

        0 replies 1 retweet 2 likes
      3. End of conversation
      1. Lawtalkinguy‏ @lawtalkinguyesq 20 Mar 2019
        Replying to @HeerJeet

        sure it might work in practice, but does it work in theory?

        0 replies 0 retweets 3 likes
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      2. Chris Auld‏ @Chris_Auld 20 Mar 2019
        Replying to @HeerJeet

        Jeet, you have made this point before, and been corrected before: economic theory does NOT say "minimum wage rise will increase unemployment." Buchanan's comment is embarrassing, but does not reflect mainstream thought then or now. Econ was, and is, an empirical science.

        1 reply 0 retweets 8 likes
      3. Aditya Dasgupta‏ @_adasgupta 20 Mar 2019
        Replying to @Chris_Auld @HeerJeet

        In what sense did this not reflect mainstream supply/demand framework in the sense of the paradigm prevailing the card/Krueger and other minimum wage empirical papers ? For example: https://www.jstor.org/stable/1183382?seq=1#page_scan_tab_contents …

        2 replies 0 retweets 4 likes
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