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There was a lot of fearmongering. As other communities are evaluating or adopting a similar strategy to Seattle, I would say it's a relevant article, because no
by mgbmtl 8y ago
There was a lot of fearmongering. As other communities are evaluating or adopting a similar strategy to Seattle, I would say it's a relevant article, because now we have better data to rely on.
It's similar to when cannabis was legalized in Colorado. There was a lot of panic and fear. Other communities waited and observed, then embraced.
- wallace_f 8y agoI also thought the article could have a good purpose in at least asking the other side to consider questioning its assumptions. Too much in economics is considered dogma; those who question it end up effectively committing apostasy.
- throwawaymath 8y agoOn the contrary, much of modern economic thought is not dogmatic. It only seems dogmatic because the most accessible pieces of the discipline are picked up and refracted through a political lens. It's hard to get access to what economists actually think if your source is e.g. Bloomberg, WSJ, NYT, reddit, HN, etc.
- wallace_f 8y agoOk, but I have some formal training in economics and I wholeheartedly disagree. I'm mostly talkibg about macro, public policy and political economy here. It has always been this way. It took the Great Depression to usher in Keynesian econ--theories riddled with previously crackpot ideas--and that had to be done by a well-connected and- respected insider, with trendy language and trendy, but to be fair elegant and clever, maths. Most of the John List's in econ really do become truckers. It's not science or engineering where results matter. Almost alll the results dont matter. And I never was able to question the min wage dogma in undergrad.