Showing posts with label Kartik Athreya. Show all posts
Showing posts with label Kartik Athreya. Show all posts

Monday, June 28, 2010

It is possible to have a simple question in a complex field

Kartik Athreya packs a lot of stupid into one PDF and though Mark Thoma does a good job of unpacking most of it, there are, inevitably, statements that could use additional rebuttal. Here's an example:
It is precisely from this low-level vantage point that I am totally puzzled by the willingness of many who fearlessly and breathlessly opine about economics, especially macro- economic policy. Deficits, short-term interest rate targets, sovereign debt are all chewed over with a level of self-assuredness that only someone who doesn’t know more could. The list of those exhibiting this zest also includes, in addition to those mentioned above, some who might know better. They are the patron saints of the “Macroeconomic Policy is Easy: Only Idiots Don’t Think So” movement: Paul Krugman and Brad Delong. Either of these men will assure their readers that it’s all really very simple (and may even be found in Keynes’ writings).
There's an obvious but important point that Dr. Athreya either manages to miss or avoid, namely the distinction between a simple field and a simple question. In almost all fields, even the most complex and challenging, there are simple, easily-answered questions.

Krugman and Delong frequently argue that some colleagues, policy-makers, journalists or politicians have reached the wrong conclusion about a simple point in macroeconomics. They sometimes also contend that some of these errors are partially the result of idealogical thinking or outside influence (both of which have occasionally been observed in economics).

Dr. Athreya is free to dispute Krugman and Delong's arguments either by showing that the question is not simple or that it is simple but they still got it wrong. If he could actually prove either he could really advance the debate. Instead he seems to argue that the existence of simple questions implies a simple discipline.

And for someone of Dr. Athreya's qualifications and accomplishments, that's kind of simple-minded.