What Exactly is Overrated Here?
Matt Yglesias thinks empirical evidence is overrated.
I am struggling not to say something incredibly snarky here.
It seems to me that what’s actually overrated in policy debates is our ability to use an Econ 101 textbook to predict everything. I realize this can be difficult to admit if you have an ideological commitment to certain kinds of “compelling theoretical reasons”, but policy is a spectacularly inefficient machine for altering human behavior.
This argument is especially rich given this recent post by Yglesias.