tag:blogger.com,1999:blog-17232051.post3617898070843094393..comments2024-03-28T03:16:14.104-04:00Comments on Noahpinion: Tyler Cowen pounces on KeynesianismNoah Smithhttp://www.blogger.com/profile/09093917601641588575noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-17232051.post-63429259625211595252012-02-21T15:01:04.441-05:002012-02-21T15:01:04.441-05:00Be nice if you'd caption your photos. Maybe no...Be nice if you'd caption your photos. Maybe not everyone knows who these guys are or their relevance to post.JohnMnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-52927037768419732302012-02-10T22:22:39.512-05:002012-02-10T22:22:39.512-05:00Not me. Somebody else. There it is.
Here’s my pro...Not me. Somebody else. There it is.<br /><br />Here’s my problem: Tyler Cowen is an idiot. I don’t want to read anything by him, secret or otherwise. Everything I’ve ever read by him has simply appalled me with its stunning fatuity. (He once wrote something so unbelievably stupid—search for “shoplifted”—that I felt compelled to contact him and correct him, just to preserve my sanity. It took a couple of emails before he finally conceded—search for “shoplifting”.)<br />Of course, I do my best not to read any of his drivel. But because many other people, including some whose writings I enjoy, are under the inexplicable illusion that Cowen isn’t an idiot, they read his garbage, and even quote him from time to time, and before I know it I’m stuck reading yet another of that moron’s deeply boneheaded “insights”. I would therefore gladly pay good money for him to keep everything he writes, not just his stupid bonus blog, secret.<br /><br />Now someone could probably write a piece of client software to filter all his crap out of my browser. The problem is that if he wanted to, he could most likely figure out a way around any such filter. What’s needed instead is some kind of market mechanism whereby I could join up with the millions of people out there who surely recognize that merely glancing at Cowen’s scribblings destroys brain cells, and pay him to keep Marginal Masturbation and all the rest of his imbicility away from the vulnerable public. But as far as I know, no such mechanism exists. Do any of you armchair economists out there have any ideas?”Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-36349250646559995752012-02-09T22:40:45.848-05:002012-02-09T22:40:45.848-05:00In my opinion, there has been a palpable increase ...In my opinion, there has been a palpable increase of vitriol in the econoblogosphere in recent months. I have felt for some time that the blog format tends to bring out the worst in people, in part because of its impersonality. In my own experience, I have felt that I was becoming someone I didn’t like – frustrated, impatient, and critical. <br /><br />I believe that some of these heated exchanges are driven by fundamental differences that will not be bridged or won by either party. Cowen has recently complained about the comportment of Krugman and others. However, Cowen’s tone is certainly no better. Giving shouts out via links does not make for civility as these are generally veneer deep expressions of respect that rub off from the slightest abrasion. Cowen talks of his admiration for Krugman. I concur. He’s a great intellect. Cowen then tries to suggest that Krugman’s weaknesses, specifically his temperament, undermine his intellectual potential. <br /><br />I think it’s worthwhile considering limitations of various varieties. Cowen recently referenced Dostoevsky in a manner that most literarily sophisticated people would characterize as shallow if not ignorant. If Cowen’s purpose was to demonstrate a lack of intellectual depth, he succeeded. He then postures with forgetting is not failing. I would argue that passing or even acing is not learning. Claiming that you read something is different from demonstrating that you understand it. Retaining information is different from applying it, and so on. Perhaps the goal is to achieve a tenured professorship so that you can comfortably dismiss these important differences. If this is the case, Cowen has again succeeded.<br /> <br />However, if the goal is scholarship, then this approach would be a failure. Academics hold privileged positions, to be sure. But it’s not because of the colors of their diploma, but rather for the opportunities they have to improve society. They are its intellectual pillars. They are meant to advance knowledge, and if perchance they also have depth of character, even provide wisdom. But if an academic is only endowed with a marginally better intellect, which in my opinion is true of most if not all academics, and a significantly larger ego, then his or her contributions will be barely worth the time. <br /><br />Cowen was right about the faulty logic surrounding the recent conclusions about marriage and poverty. It should also be noted that Krugman changed his stance. Apparently, his ego did not dominate his intellect. Can Cowen say the same? <br /><br />There are a great many academics that quietly conduct research and scholarship of the highest quality. I admire them, and I hope that they are recognized for their work. But even if they never get the number of Twitter followers as Cowen has, they probably have garnered more respect for their good grace and decency than he could ever hope to have.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-36158326531312943362012-02-06T17:40:47.049-05:002012-02-06T17:40:47.049-05:00Taryn Hart said...
" Is there a reason ev...Taryn Hart said...<br /><br /> " Is there a reason everyone treats Cowen like he's not a bought-and-paid-for Koch whore? All those George Mason University think tanks are Koch-funded propaganda machines."<br /><br />Because if economists started treating people who work in intellectual br*thels like whores, then they'd have to piss off a lot of prominent people in economics.Barry DeCiccohttps://www.blogger.com/profile/04735814736387033844noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-92095602908516857422012-02-06T12:27:57.254-05:002012-02-06T12:27:57.254-05:00Is there a reason everyone treats Cowen like he...Is there a reason everyone treats Cowen like he's not a bought-and-paid-for Koch whore? All those George Mason University think tanks are Koch-funded propaganda machines.Saphronhttps://www.blogger.com/profile/15522096582024595483noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-37362576166768109992012-02-05T04:19:31.944-05:002012-02-05T04:19:31.944-05:00does this mean we get to continue our trillion dol...does this mean we get to continue our trillion dollar plus federal deficit, as it is not keynesian?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-37289645948452943972012-02-05T00:14:20.823-05:002012-02-05T00:14:20.823-05:00Well, aside from the idiocy, about being fittable ...Well, aside from the idiocy, about being fittable an a model, real shocks actually do occur. In this case, the month is probably evidence of cracks in the politically motivated layoff tendency imposed during the post 11/2008 Republican party membership handshake. Their grip has held for _almost_ the four years necessary; but at this point nobody with half a fortune is willing to wait yet another four years to put it to at least some use. Viva la politica!Ronald Calitrihttps://www.blogger.com/profile/07206853993777529429noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-66748827372479736652012-02-04T23:34:25.729-05:002012-02-04T23:34:25.729-05:00Almost everyone who is capable of understanding ma...Almost everyone who is capable of understanding macro models thinks that the old Keynesian models are wrong, seriously erroneous.<br /><br />It is a straw man argument to attack the old Keynesian models, if none actually take them seriously as models. Or at least that's what I thought, until I saw people taking (or claiming to take) seriously the old Keynesian models that have been deprecated for good reasons out of the macro modeling decades ago.<br /><br />Does anyone actually think that in the current situation a negative supply shock would be good?obelixhttps://www.blogger.com/profile/13404559782994766876noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-13908495571542474482012-02-04T17:24:52.366-05:002012-02-04T17:24:52.366-05:00As an Econ Prof., I searched about to find high qu...As an Econ Prof., I searched about to find high quality conservative economic commentary blog sites to recommend to the students. I thought that his site might be one, but after reading it frequently, I have concluded that sadly, there are none. Cowen is just a dilettante, as there seems never to be any analysis -- just a stream of oversized and under-considered tweets. How am I not surprised -- libertarians are just ideologues, and ideologues of every stripe just substitute cant for thought.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-55929091503831059832012-02-04T10:31:05.200-05:002012-02-04T10:31:05.200-05:00Cowen is clearly taking swipes a Krugman with this...Cowen is clearly taking swipes a Krugman with this particularly piece but what is also becoming clear is there really are no "Keynesians" in the ring to punch, there are only anti-Keynesians shadow boxing straw men viz http://mainlymacro.blogspot.com/2012/01/anti-keynesian-school.html<br /><br />"At the academic level, it reflects the defeat of the Keynesians at the hands of New Classical economists, without noting that things have moved on rather a lot since then. ...those economists who use (New) Keynesian theory generally think they are just applying standard macroeconomic analysis. ...They do not think of themselves as members of a school of thought – they thought they were part of the mainstream."<br /><br />"Keynesian analysis ...does not need to be embodied in a school of thought. However, for those that like schools of thought, I will replace it with a new one: the anti-Keynesian school of thought. It covers all those who attempt to dismiss Keynesian ideas like fiscal stimulus at the zero bound, or countercyclical fiscal policy in a monetary union, not through reasoned analysis, but by just labelling it Keynesian."RWnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-90479821280569807092012-02-04T10:08:14.580-05:002012-02-04T10:08:14.580-05:00It's an amazing example of how academics can t...It's an amazing example of how academics can turn into vicious vipers when they're publicly shown to be wrong, wrong, wrong. <br /><br />Tyler has nothing left. So he lashes out. <br /><br />When will we stop paying attention and giving any credibility whatsoever to those who were so wrong through this last very serious crisis, and start bestowing credibility only on those who were persistently right?<br /><br />The only people who should take Tyler or Mankiw seriously are partisan hacks. Sensible people should just laugh at them and say, "show me some results and you'll get some credibility back."<br /><br />When will facts and truth start to matter again? <br /><br />This is a very sad and desperate time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-44214686919956271892012-02-04T09:54:51.805-05:002012-02-04T09:54:51.805-05:00The issues is not whether recover will not happen ...The issues is not whether recover will not happen without Keynesian stimulus. The argument is that the economy will recover faster with stimulus than without it. Counterfactuals are difficult to do.<br /><br />Stimulus targeted at JOB creation is different from economic recovery. An economy can recover with lingering high unemployment. The primary argument for JOB creation stimulus is one of workforce investment (most training is on the job) and addressing the high negative social costs and opportunity costs of prolonged unemployment.<br /><br />A singular focus on growth misses the larger issues.<br /><br />-jonny bakoAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-25666332082454495852012-02-04T09:41:29.183-05:002012-02-04T09:41:29.183-05:00How can we be sure that the person claiming to be ...How can we be sure that the person claiming to be Tyler Cowen is Tyler Cowen? Seems kind of odd and petty for him to troll a place like this for insults.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-13812592129146390402012-02-04T08:58:19.177-05:002012-02-04T08:58:19.177-05:00"Love the Tyler Cowen bashing. Tyler Cowen.&q..."Love the Tyler Cowen bashing. Tyler Cowen."<br /><br />Well, since you like it I'll pile on.<br /><br />100 years from now people will still be reading Keynes and saying he's brilliant...and for the most part, correct. 100 years from now, (heck, maybe 10) people will say "Tyler who?"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-9337413731593808012012-02-04T07:50:09.918-05:002012-02-04T07:50:09.918-05:00Despite being only one's month data, the data ...Despite being only one's month data, the data is good news for the current administration and the economists who, broadly, align with them. So the economists who, broadly, align against them are FORCES to stir the tea leaves and try to pull something negative out of the dregs.<br /><br />Cowen really has no choice but to be this ridiculous.gilroy0https://www.blogger.com/profile/13586592076460054599noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-70279228260342793662012-02-04T00:35:41.194-05:002012-02-04T00:35:41.194-05:00He looks like the staw man here.He looks like the staw man here.Luke Leahttps://www.blogger.com/profile/11290760894780619646noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-29429796274149610922012-02-03T21:52:46.954-05:002012-02-03T21:52:46.954-05:00My knowledge of economics is scanty, but even I re...My knowledge of economics is scanty, but even I read Cowen and immediately thought "the climate is not the weather."<br /><br />Maybe it's wishful thinking, but I get a feeling that Tyler is desperate for credibility among his peers. For a long time DeLong and maybe Krugman treated him respectfully, but in the past year he has received many a drubbing from them, from this site, and from others.Mike Hubenhttps://www.blogger.com/profile/01371469964446567690noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-69878170788832329042012-02-03T18:37:19.849-05:002012-02-03T18:37:19.849-05:00It seems to me, as a regular reader of both Margin...It seems to me, as a regular reader of both Marginal Revolution and Conscience of Liberal, this is trying to take Krugman's trusty hook line(his repeated assertion that events follow a broadly Keynesian narrative) and use it against him - that events aren't Keynesian at all. No. Theyre RBC. Look that data says so. Now the Facts are on my side! Neener neener neener.<br /><br />O RLY<br /><br />His phrasing is almost IDENTICAL to Krugman's. Ive been reading CoaL long enough to recognise that turn of phrase.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-53085552696507743982012-02-03T18:06:39.626-05:002012-02-03T18:06:39.626-05:00Wouldn't the current environment qualify as a ...Wouldn't the current environment qualify as a win for the liquidity trap? Haven't policymakers actively responded to the liquidity trap through unconventional monetary policy which is perhaps helping the economy?bogmundsnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-65852640189874451962012-02-03T17:23:46.162-05:002012-02-03T17:23:46.162-05:00Love the Tyler Cowen bashing. Tyler Cowen.Love the Tyler Cowen bashing. Tyler Cowen.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-36434435473217819062012-02-03T16:04:10.918-05:002012-02-03T16:04:10.918-05:00Tyler Cowen = glib.
One has to be a better writer...<i>Tyler Cowen = glib.</i><br /><br />One has to be a better writer than Cowen to qualify as glib.<br /><br />Arguments between economists of the "my theory is better than your theory" variety are laughable since all their theories suck. <br /><br />RBC seems particularly bad since it comes down to "the economy changes because something magic happens outside the scope of the theory." Relying on random shocks to explain the interesting behavior is right up there with cargo cults and throwing virgins in volcanos.Absalonhttps://www.blogger.com/profile/09131268683451462949noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-48107686240844024422012-02-03T15:11:37.441-05:002012-02-03T15:11:37.441-05:00I don't think it was intended to be a substant...I don't think it was intended to be a substantive attack on Keynesianism as much as it was a veiled attack on Krugman (among others).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-59249873746065720482012-02-03T15:02:52.280-05:002012-02-03T15:02:52.280-05:00Tyler Cowen = glib.Tyler Cowen = glib.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-17232051.post-13654577800526095882012-02-03T14:51:01.149-05:002012-02-03T14:51:01.149-05:00What's hilarious about this is, who was it wro...What's hilarious about this is, who was it wrote an article exactly a year ago predicting <a href="http://www.foreignpolicy.com/articles/2011/01/05/10_percent_unemployment_forever?page=full" rel="nofollow">"10 percent unemployment forever"</a>? That would be ... Tyler Cowen.<br /><br />That's a special kind of chutzpah.JW Masonhttps://www.blogger.com/profile/10664452827447313845noreply@blogger.comtag:blogger.com,1999:blog-17232051.post-52034770010727543642012-02-03T14:06:27.774-05:002012-02-03T14:06:27.774-05:00As a biologist, I take severe exception to the sug...As a biologist, I take severe exception to the suggestion that Tyler Cowen possesses anything like the strength and grace of a cougar.Ralph Haygoodhttp://ralphhaygood.org/noreply@blogger.com