Tag Archives: business

Who decides what statistical offices measure and how they measure it? And what are the implicit values embedded in these decisions? Recently, the ILO issued a new manual on measuring productivity. Below, I´ll discuss the questions posed. But for starters, it is essential to realize that economists measure monetary productivity, not physical productivity, which leads to problems with ever-changing prices. This will be part of the discussion. The ILO (International Labour Organization)...

Executive summary: if investments are needed, do not reform. Invest. Investments are the reform. Angus Maddison (historical patterns of growth) and Jan Kregel (leading post-Keynesian economist) were the intellectually dominant forces during my economics study in Groningen around 1982. Let´s apply their frameworks to Greece. Growth, as we measure it, has many sources: increasing the productivity of existing activities (the mechanization of the potato harvest), shifting labour from...

from Lars Syll Recognition of the speculative value of counterfactualizing provides the grounding for a defense of theoretical pluralism in economics. The existence of multiple contending theories in economics is inconvenient, of course. It casts doubt on the truth content of the counterfactual scenarios generated by the predominant approach and challenges the predominant causal claims … But that is precisely the virtue of contending theoretical perspectives in economics. They serve to...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. I’ve been really enjoying the Vox and IRC collaboration podcast Displaced (Apple). Some highlights for me were Rachel Glennerster (who had an amazing response to the Guardian op-ed on RCTs), Alix Zwane, Owen Barder, and Stefan Dercon. I think I pinpointed one reason it feels so informative – the hosts have clearly read up on the topic, and the way they ask questions gives you all the background you need to get right into a really...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. The datasets above all have the same means, SD, and correlations explain Justin Matejka & George Fitzmaurice of Autodesk in a modern update of Anscombe’s Quartet. But the lesson is the same – always plot your stuff. (h/t everybody) Jobs postings: Summer jobs with Busara Center, full-year with Michael Clemens, and many at the IPA/J-PAL (and several other orgs) jobs portal. Podcasts: Tyler Cowen talks with Cardiff Garcia on FT...