The voodoo science of stimulus
Most social “science”, and macroeconomic modeling in particular, suffers from serious epistemological and methodological problems. In a recent article for Reason Peter Suderman discusses the questionable models that are used to evaluate the effects of the stimulus: According to the CBO’s estimates, depending on how the money is spent, one dollar of government spending can [...]
Nassim Nicholas Taleb on stimulus and monetary policy
Nassim Nicholas Taleb, whose writings display a unique combination of common sense and sophisticated epistemological awareness, has co-authored an opinion piece with Mark Spitznagel on the dangers of our culture of debt and misplaced trust in the economic experts of the government and the Fed. One does not need to completely agree with the authors [...]
Stimulus
Stimulating monkey brains
At Overcoming Bias Patri Friedman observes: In the ancestral environment, pulling together to help the tribe in a time of crisis was the best way for an individual to survive. In our modern environment, however, we are often led to identify with an entire nation as our “tribe”, and it turns out that this is [...]