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This article seems to confuse various forms of knowledge and discourse. To follow up on the doctor analogy: First, I expect the doctor to tell me what he finds
by xalava 6y ago
This article seems to confuse various forms of knowledge and discourse.
To follow up on the doctor analogy: First, I expect the doctor to tell me what he finds. For instance, I can't blame him for not finding pathologies for which I don't have a symptom yet.
Secondly, the state of any scientific knowledge is limited. Especially in economy, to explain ongoing new phenomenons is already a prowess, to accurately and convincingly anticipate them is sorcery. I expect economists to have heated debates among themselves, and the state of established knowledge to be lagging behind.
Thirdly, I don't expect my doctor to tell to Congress what he finds. There is a distinction between applying professionally an expertise and political statements. The Chair of the Fed has to do both both, having to analyse the situation accurately and to measure public statements. That goes to the question of how decisions are taken in a democracy.
Finally, as for op-ed, even written by Nobel prized economists, they are labelled as opinions. I appreciate Paul Krugman column, but one feature of weekly opinions is that they inevitably contain contradictions.