"Economists aren't stupid" is a "stupid" thing to say. The study makes clear mistakes, and how stupid or smart the economist is is completely irrelevant. Anywa

"Economists aren't stupid" is a "stupid" thing to say. The study makes clear mistakes, and how stupid or smart the economist is is completely irrelevant. Anyway, trying to control for variables like the influence of parents is a fool's errand. The population that goes to college is self-selecting. There's almost certainly a direct correlation between aiming to earn a lot of money and going to college. It is a fact that colleges select what they consider to be the best of the applicants they see. These people are clearly likely to earn more money than the ones who are not accepted. etc. etc. etc.