8/5 http://www.nytimes.com/2005/08/05/opinion/05krugman.html
"Corporations followed his lead, pouring a steady stream of money into
think tanks that created a sort of parallel intellectual universe, a
world of 'scholars' whose careers are based on toeing an ideological
line, rather than on doing research that stands up to scrutiny by their
peers."
"... supply-side economics, a doctrine whose central claim - that tax
cuts have such miraculous positive effects on the economy that they pay
for themselves - has never been backed by evidence."
"...discredit research on global warming. Despite an overwhelming
scientific consensus, ... impression that the issue is still
unresolved."
\_ Insert obligatory NYT bashing.
\_ Supply-side economics is pseudo-science now? -- ilyas
\_ it depends on what he meant by "never been backed by evidence"
\_ I think this 'never been backed by evidence' claim is pretty
stupid. The problem is, doing real empirical work to test
'big theories' in economics amounts to experimentation on
humans, so people tend to invent new theories when old ones no
longer explain what's happening, rather than explain the
humans, so people tend to invent new theories when old ones
no longer explain what's happening, rather than explain the
'experimental data someone collected.' -- ilyas
\_ ^pretty stupid^his conclusion as an expert in the field of
economics
\_ This is where I bring up that supply-side first arose
because Keynesian economics didn't correctly explain
what was happening in the 70s. But yeah, it's all
pseudo-science with pseudo-scholars. No real economists
are proponents of supply-side, it's all right-wingers
and fundies. Such utter dumbassery. -- ilyas
\_ No serious economist believes that cutting taxes
always increases government revenue. So it is a
bit of a straw man, but apparently believed by you.
\_ No, I think the original claim was talking about
supply-side economics as 'bad science,' it is you
who is now trying to beg off on some weaker
version of the original retarded statement.
No supply-sider believes the statement you just
made. -- ilyas |