RCTs protect you against a lot of things. But you still need to watch out for fallacies of composition. "Winning the lottery causes each firm to do x. Therefore, if all firms win the lottery, every firm will do x." Maybe, maybe not.

I've been trying to understand the debate about "Multiple Intelligences". But I keep thinking about Comparative Advantage vs Absolute Advantage.

economicforces.xyz/p/on-peter-how…

I do not understand a *Long Run* "shortage of money". Short Run, sure. That's what causes recessions IMO. But Long Run? I don't want to dismiss the idea. But where did Hume's Price specie flow go? (Just a tangential thought beginning reading Mike Bird 's good The Land Trap)

"Affordability" is the same as "real incomes". But it's funny how changing the framing leads you to think differently about policies that might improve it.

My utility is measured in Celsius, your utility is measured in Fahrenheit. Both cardinal, but interpersonal comparisons are tricky.

Noah Smith 🐇🇺🇸🇺🇦🇹🇼 Scott Sumner Garett Jones Glenn Loury Samuel Gregg Nick Rowe Cameron Harwick 👾🏛 6. But the reality is that conventional centre-right politicians are being displaced by national populists not because they did not pay attention to economists, but because they did. lorenzofromoz.net/p/why-we-shoul…