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There are a lot of factors that have gone into that drop (women entering the workforce, aging population, the 50's number being inflated, etc) but you're right.
by tommynicholas 9y ago
There are a lot of factors that have gone into that drop (women entering the workforce, aging population, the 50's number being inflated, etc) but you're right. I think trying to isolate an answer to that question is fascinating and if I were an economist it is all I would be spending my time on.
- ahartman00 9y ago"There are a lot of factors that have gone into that drop" Exactly. Complex systems are complex. "trying to isolate an answer" Wait, did you just contradict yourself? If there are a lot of factors, and they all contribute, why would you even try to isolate one? It's all of them.
- tommynicholas 9y agoI wasn't suggesting isolating one factor, I was suggesting that isolating what is actually a cause/effect of this drop, to what degree, vs what isn't is critical. I am 100% sure it's not one thing. Economists, good ones at least, as supposed to come up with a theory that unifies the facts into a coherent story, testable so that when a factor they didn't consider is introduced, the story still holds true. This is the same of any science (to the extent that economics is a science). That's what I want to see and more of. It's part of why I didn't like Piketty but also part of why I found it a compelling effort at least.