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> - The root cause of this knowledge deficiency is the inability to run proper controlled experiments. There have been a number of experiments over the last fe

> - The root cause of this knowledge deficiency is the inability to run proper controlled experiments. There have been a number of experiments over the last few years. For example, tax cuts don't pay for themselves (or, in the most positive interpretation: we're on the left-hand side of the Laffer curve): * https://en.wikipedia.org/wiki/Kansas_experiment https://en.wikipedia.org/wiki/Kansas_experiment * https://www.npr.org/2019/12/20/789540931/2-years-later-trump-tax-cuts-have-failed-to-deliver-on-gops-promises https://www.npr.org/2019/12/20/789540931/2-years-later-trump... Expansionary austerity was also tried and found not to work (as predicted by Keynesians): * https://en.wikipedia.org/wiki/Expansionary_fiscal_contraction https://en.wikipedia.org/wiki/Expansionary_fiscal_contractio... * https://www.theguardian.com/business/ng-interactive/2015/apr/29/the-austerity-delusion https://www.theguardian.com/business/ng-interactive/2015/apr... Then there's the whole anti-QE thing: > We believe the Federal Reserve's large-scale asset purchase plan (so-called "quantitative easing") should be reconsidered and discontinued. We do not believe such a plan is necessary or advisable under current circumstances. The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed's objective of promoting employment. * https://economics21.org/html/open-letter-ben-bernanke-287.html https://economics21.org/html/open-letter-ben-bernanke-287.ht... Most economic ideas put forward by the political right seems to have been found not to work over the last decade.

dragonwriter 5y ago
> There have been a number of experiments over the last few years. Neither laboratory experiments nor even ones with decent statistical controls for confounding factors, and rarely, on any large-scale policy, ones with more than single digit N (and quite often, that's true even in binary, much less decimal, notation.)

dragonwriter 5y ago

> There have been a number of experiments over the last few years. Neither laboratory experiments nor even ones with decent statistical controls for confounding factors, and rarely, on any large-scale policy, ones with more than single digit N (and quite often, that's true even in binary, much less decimal, notation.)