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So what happens to the authors of this paper if we take their advice and it goes badly?
by MBlume 13y ago
So what happens to the authors of this paper if we take their advice and it goes badly?
- zzleeper 13y agoNothing of course! It's one of the wonders of being an economist ;) (sarcasm aside, I do think there should be stronger professional repercussions in economics for advocating idiotic policies. It's one thing to found a startup and fail, and then start again; it's another to cause a deep recession in a country and then say "oh well, let's try again")
- moments 13y agoThe author follows this rule: only recommend a strategy that is currently used. If the advice goes badly, the author also suffers. Such recommendations are more reliable than those from authors without 'skin in the game'.