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A thread on foolish consistency and little minds: one thing I often encounter in my role as a public intellectual is someone pointing out that I once said something different from what I'm saying now. Why, yes: I do change my views when I get new information 1/
This is what you're supposed to do! Recently Larry Katz and Alan Krueger, who put out a widely cited study on the gig economy, discovered that new evidence makes the growth of that economy look much smaller. And they said so 2/https://www.nber.org/papers/w25425
This is to their credit. If you never change your mind in the face of new arguments and evidence, you're probably a propagandist, not a real economist. Treating such shifts as gotcha moments says more about the critic than the researcher 3/
I've had plenty of such shifts, and I'm proud of them. For example, 25 years ago I was a conventional minimum-wages-reduce employment guy. But then I read Card and Krueger, plus the followup literature, and realized that the evidence said otherwise 4/
I was more conventional-minded about debt, too -- but like @ojblanchard1 have been persuaded by evidence that debt concerns have been overblown 5/
And I wasn't a 70% top marginal rate guy until I read Diamond and Saez, which was revelatory. When two of our greatest economists make a really compelling case, changing your mind seems appropriate 6/https://www.aeaweb.org/articles?id=10.1257/jep.25.4.165 …
Apparently it was Paul Samuelson, not Keynes, who said that when his information changed, he changed his mind -- what do you do? Whatever the source, it's the right thing. Show me someone who never changes their mind, and I'll show you someone without much mind at all 7/
Outrageous.
how do I become a public intellectual?
Apparently you state that you are one on Twitter.
He’s gonna email the fax machine when the technology gets there
Twitter saattaa olla ruuhkautunut tai ongelma on muuten hetkellinen. Yritä uudelleen tai käy Twitterin tilasivulla saadaksesi lisätietoja.
