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If you are really pointing out the lack of conclusive evidence for the effects of a single factor in a complex real-world economy, you may have spent too many y
by alvah 2y ago
If you are really pointing out the lack of conclusive evidence for the effects of a single factor in a complex real-world economy, you may have spent too many years in education playing with models and simulations, and too few years in the real world.
- disgruntledphd2 2y ago> If you are really pointing out the lack of conclusive evidence for the effects of a single factor in a complex real-world economy, you may have spent too many years in education playing with models and simulations, and too few years in the real world. That's some quality assumptions you're making there, but whatevs. You're the person who brought up the Laffer curve. Apparently (so Wikipedia tells me) https://en.wikipedia.org/wiki/Laffer_curve https://en.wikipedia.org/wiki/Laffer_curve (section income tax rate as which revenue is maximised) around 65% is the point at which taxes stop being as effective. That's interesting to me as I would have thought it was lower. Note that because of how economics work, this number is from correlational data so is probably not as robust as an experimental approach might be (but unfortunately that's basically impossible to implement).