economists
The economists themselves and the schools they founded -- Smith, Mill, Keynes, Hayek, Friedman -- rather than any one economic question.
FilterEveryone, all time36 from 14 people
- PW
Peter Woit quoted
Mathematician and Senior Lecturer in the Mathematics…
Their wordsThis is complete nonsense, a shame that The Economist has been taken in by it.
- 6 weeks earlier
- BS
Balaji Srinivasan quoted
Co-founder of Counsyl and of Earn.com
Their wordsIf you run a two-sided marketplace, you’ll find contra Hayek that not all knowledge is local.
- 5 weeks earlier
- AI
Alex Imas quoted
Behavioural economist at Chicago Booth
Their wordsrather than thinking about individual forecasts like what me and Phil are going to do, rather looking at kind of like basically generating prediction markets, where you get aggregate forecasts, where you get like kind of wisdom of the crowd effects. And kind of the reason that I think this is because we have been famously terrible at forecasting.
↗The better AI gets, the smaller its share of the economy might get – Alex Imas and Phil Trammellyoutube.com 2nd of 33 in this recording
- AI
Alex Imas quoted
Their wordsAnd if you look at Ricardo's predictions, they're actually right. If you look at all those jobs that made money in Ricardo's time, they got automated. So, if I was David Ricardo and I woke up and somebody told me all those jobs did get automated. And you ask me David Ricardo, like what do you think the prime age employment rate is in 2026? I think he would be surprised if you told him it was the highest it's ever been other than 2000.
↗The better AI gets, the smaller its share of the economy might get – Alex Imas and Phil Trammellyoutube.com 3rd of 33 in this recording
- 4 weeks earlier
- NS
Noah Smith quoted
Economics writer; author of the Noahpinion newsletter
Their wordsThe counterargument here — which I made in 2020 and which a number of economists made in response to JFV’s post — is that it’s better to study something knowable than to study something unknowable, even if the knowable things are less important.
↗Could development economics be more useful?noahpinion.blog 1st of 5 in this piece
- NS
Noah Smith quoted
Their wordsUnless and until AI gets smart enough to study human society from a bird’s-eye view, I think we should be humble about how much we expect development economists to be able to contribute to developing countries’ growth policies in real time.
↗Could development economics be more useful?noahpinion.blog 3rd of 5 in this piece
- NS
Noah Smith quoted
Their wordsSo we should be careful that exhortations for development economists to focus on the Big Questions don’t pressure them to pretend that they have the Big Answers.
↗Could development economics be more useful?noahpinion.blog 5th of 5 in this piece
- 5 months earlier
- RS
Rory Sutherland quoted
Rory Sutherland is vice chairman of Ogilvy UK
Their wordseconomists have this fantasy of the world of companies in direct competition driving down price and increasing efficiency while supplying the same thing which is based on a false premise that people know what they want to begin with. Now I would argue when you don't create differentiation, everybody suffers.
↗Marketing Expert: The Playbook Behind Every Great Campaign | Rory Sutherlandyoutube.com 14th of 16 in this recording
- 10 months earlier
- BC
Bryan Caplan quoted
Their wordsDespite misleading statements by mainstream education economists, college attendance in particular is not a good career investment for most of the population.
↗Selfishly Speaking, Who Should Skip College?betonit.ai 2nd of 5 in this piece
- 4 weeks earlier
- JB
Jennifer Burns quoted
Historian of ideas at Stanford University and the Hoover Institution
Their wordsMilton Friedman, he also does tend to have friends who agree with him, yet he's always willing to debate his opponents, and he's willing to do so with a smile on his face. He's a happy warrior, and he actually will win a lot of debates simply by his emotional affect and his cheerfulness and his confidence, where Rand will lose debates because she gets so angry in the face of disagreement.
↗Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457youtube.com 1st of 20 in this recording
- JB
Jennifer Burns quoted
Their wordsWhat is important to note though is that they thought of all of those as emergency measures to get through the emergency not as permanent alterations in the state of what had to be and not permanent alterations between state and market
↗Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457youtube.com 5th of 20 in this recording
- JB
Jennifer Burns quoted
Their wordsMilton Friedman is very open to doing things differently in a state of emergency. He will have different ideas during World War II than any other time and that's why I argue I think he would have been supportive of at least the first rounds of coronavirus relief because I think he would have put his emergency thinking hat on.
↗Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457youtube.com 6th of 20 in this recording
- JB
Jennifer Burns quoted
Their wordsAnd almost single-handedly, Friedman will introduce political and ideological diversity into the field of economics because, from his beachhead in Chicago, he will develop the theory of monetarism.
↗Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457youtube.com 7th of 20 in this recording
- JB
Jennifer Burns quoted
Their wordsAnd Friedman advanced a policy that was really abstract and really it was devoid of judgment. It was pure and beautiful in that way but utterly impractical.
↗Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457youtube.com 10th of 20 in this recording
- JB
Jennifer Burns quoted
Their wordsBut she shared many of his ideas and when I think of Friedman, if you take away Anna Schwartz, if you take away Rose Friedman, if you take away the other woman who collaborated with him, you have a much thinner resume than the one he actually has.
↗Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom | Lex Fridman Podcast #457youtube.com 15th of 20 in this recording
- 14 months earlier
- OB
Olivier Blanchard quoted
Economist; former chief economist of the International Monetary Fund
Their wordsIt is fair to say that, while economists expected the short end of the yield curve to reflect the higher rates needed to win the fight against inflation, the sharply steeper long end of the yield curve in the last few months has come as a surprise. I shall freely admit that I did not predict it.
↗If markets are right about long real rates, public debt ratios will increase for some timepiie.com
- 3 weeks earlier
- MA
Marc Andreessen quoted
Co-founder of Netscape and of the venture firm Andreessen Horowitz
Their wordsWe believe technology is a lever on the world – the way to make more with less. Economists measure technological progress as productivity growth: How much more we can produce each year with fewer inputs, fewer raw materials. Productivity growth, powered by technology, is the main driver of economic growth, wage growth, and the creation of new industries and new jobs, as people and capital are continuously freed to do more important, valuable things than in the past.
- 2 weeks earlier
- TC
Tyler Cowen quoted
Economist at George Mason University
Their wordsAnd indeed overall that interaction fits with my more general reservation about Friedman: he wanted to make economics just a little bit too simple.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsI don’t view Keynes primarily as an economist, rather I see him as a British aesthete rationalist who did economics in his spare time, and fortunately he had lots of spare time.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsI view Keynes’s bisexuality and his strong interest in gay sex as a significant cause of what made him interesting and which gave him so strong an ability to grasp different and outside perspectives.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsMy current view is that the General Theory is a brilliant work, marred by numerous mistakes in reasoning, exposition, and microeconomics.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Our readingHayek's three best economics articles surpass the three best articles from any other economist.
Their wordsHayek’s three best articles are better than any three articles from any other economist.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsIt is a sign that Hayek was not so great at seeing the viewpoints of other people, and that (political moralizing aside) also should count as a weakness of him as an economist and social scientist.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsFriedman’s focus on the money supply has not held up, as Samuelson suggested, but the alternative Keynesian macro models recommended by Samuelson in the same interview have not done better and they were not outperforming simple random walk models of predicting the macroeconomic future.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsNot only did Mill consider the topic of women, but virtually everything he claimed turned out to be true, and insightful, even though it was highly controversial at the time. It is one of the best and most important and most original books of the nineteenth century.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsIt is striking that Mill, although writing many decades before Hayek and Friedman, fleshed out a deeper and more enduring defense of liberty than they did.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsFriedman has one big factor in his favor, namely that he is clearly the best economist on the list of contending names.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsFriedman’s best-known policy idea – targeting the money supply – no longer is regarded as correct.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- TC
Tyler Cowen quoted
Their wordsOf all the contenders for GOAT, Smith seems to be clearly the worst economist, with the possible exception of Malthus.
↗GOAT: Who is the Greatest Economist of all Time and Why Does it Matter?tylercowen.com All 25 from this book
- 15 years earlier
- AK
Arnold Kling quoted
Economist, formerly of the Federal Reserve Board…
Our reading · no longer heldWarnings of an imminent US recession in 2006 are partisan gloom rather than a real signal about the economy.
No longer holdsI will add that I was definitely not expecting Freddie Mac and Fannie Mae to have ventured so far away from the idea of investment-quality mortgages that they had enough exposure in subprime loans to wipe out their capital.
SaidDid I fail to foresee the financial crisis? Absolutely.