im unfamiliar with the literature but i think the academic arguments on minimum wage are usually pretty reasonable on both sides; it's mainly an empirical question at this point, i think but then you talk to normies and
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Replying to @NLRG_
i had a grad school classmate who found the mixed results about minimum wage effects to be evidence of an uncertain story rather than a good reason to question our empirical findings generally still think about this
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Replying to @eigenrobot @NLRG_
i would simply question both empirical and theoretical economics findings equally
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the fundamentals of supply and demand is the best supported theory in all of the social sciences and you should believe it strongly even if you don't believe other parts of economic theory
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supported by what, exactly
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*gestures wildly in all directions*
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Replying to @eigenrobot @halvorz and
the baseline predictions are the directional responses of price and quantity in response to changes in supply or demand, and they're so consistently met that it's almost trivial to list them sadly this means most of the attention goes to weird edge cases like potatoes in famines
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wait so is empirical economics good or bad
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mostly bad methods and data are still not really up to snuff for what we ask of them so you get people running experiments in controversial areas and woh shocking the results are murky (because our tools suck) and we don't learn anything but people at least get funding for v2
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so if you can't trust your data how can you trust your theory
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This is a good and reasonable question! I could give you a boring laundry list but I want to craft a story instead. I will do this after I pay attention to my pregnant wife who wants attention, back in a bit.
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Replying to @eigenrobot @halvorz and
the theory doesn't really come from the kind of data or analysis empirical econ does
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Replying to @AlexGodofsky @eigenrobot and
but does it come from data at all
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