Economics Is Super Hard, Y’all (Part II)

There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen.

-Frédéric Bastiat

When dealing with the economic effects of a policy it is paramount that we are able to see the unseen. In my debate with Mr. S last week several studies on minimum wage effects were referred to but not sufficiently analyzed (my bad). Especially in regards to the Krueger & Card study, it is important to realize that economists with an agenda will make the info say what they want the info to say. For example: the gender gap!

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