"Economists Are in the Wilderness. Can They Find a Way Back to Influence?"
January 13, 2025
As is typical of such articles this NY Times piece makes no distinction between macroeconomics and microeconomics. Macro--as I've noted a number of times--is very difficult. (Though if Argentina continues to recover, score one for conservative macro.) But economics has a lot of useful stuff to say about "micro" issues. One example from recent news reports: in trying to cast a glow on the late President Carter's term, several pieces mentioned his successful deregulation of airlines and trucking. Both were heavily influenced by economic thinking. A more recent example, you ask? The old examples still work like (most) economists expect: "Seattle Set Minimum Wage Over $20 and You'll Totally Believe What Happened Next".