Chapter
Debating Economic Views
36:00 - 44:59 (08:59)
Economist Paul Krugman argues that there's a difference between economic views worth discussing and ones that are "crank doctrines" with no empirical evidence to back them up.
Clips
The main stream policy reporting is better than it used to be, however, the perspective amongst the people on the left and on the right remain mostly critical of one another.
36:00 - 39:40 (03:40)
Summary
The main stream policy reporting is better than it used to be, however, the perspective amongst the people on the left and on the right remain mostly critical of one another.
ChapterDebating Economic Views
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
There are economic views that have been refuted by evidence, but continue to persist.
39:40 - 43:10 (03:29)
Summary
There are economic views that have been refuted by evidence, but continue to persist. Some of these are "zombie ideas" that are disseminated because people are paid to do so, while others can still have interesting discussions within the realm of economics.
ChapterDebating Economic Views
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
The complex nature of economics makes it difficult to create experiments but natural experiments and testing of rival doctrines are possible.
43:10 - 44:59 (01:48)
Summary
The complex nature of economics makes it difficult to create experiments but natural experiments and testing of rival doctrines are possible. Empirical evidence and data-based research are becoming more common among economists.