Should-Read: Jared Bernstein also wishes that we had (1) Greg back. It is indeed the case that the old (1) Greg-teaching-students-about-public-finance-issues was much better than the current (2) Greg-going-as-far-as-he-believes-he-can-to-be-helpful-to-the-Republican-Party:
Jared Bernstein: When econ models potentially mislead, econ profs should say so: "Greg Mankiw points out the direction [but not the magnitude] of Hassett’s result is consistent with a particular economic model...
Perhaps starting a broader conversation...
: In Defense of Funny Diagrams: "Brad DeLong asks a question about which of the various funny diagrams economists love...
...should be taught in Econ 101. I say production possibilities yes, Edgeworth box no--which, strange to say, is how we deal with this issue in Krugman/Wells. But students who go on to major in economics should be exposed to the box--and those who go on to grad school really, really need to have seen it, and in general need more simple general-equilibrium analysis than, as far as I can tell, many of them get these days. There was, clearly, a time when economics had too many pictures. But now, I suspect, it doesn’t have enough....
DeLong's Grasping Reality © J. Bradford DeLong 1995-2019
