{"id":3473,"date":"2008-10-14T11:55:28","date_gmt":"2008-10-14T16:55:28","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=3473"},"modified":"2008-10-14T11:55:28","modified_gmt":"2008-10-14T16:55:28","slug":"head-firmly-in-place","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=3473","title":{"rendered":"Head Firmly In Place"},"content":{"rendered":"

Flash<\/a>:<\/p>\n

\u00a0Conservatives heads exploded simultaneously at the announcement<\/a> of political gadfly Paul Krugman’s<\/a> Nobel<\/p><\/blockquote>\n

Nah.\u00a0 Head is firmly in place.\u00a0 Being a conservative, I look at issues on their merits, <\/em>using actual data<\/em> and facts.<\/p>\n

King, who has a vocational reason to remember Nobel Economics Prize trivia,\u00a0has the inside poop<\/a>:<\/p>\n

If you’ve read here before, you know that I think Paul Krugman is an excellent economist … and a lousy political observer…They indicate that “netting out” bad research is not part of the process, so all the things we might disagree with Krugman about are not part of the record the Nobel Committee looked at…<\/p>\n

…His prize<\/a> is rather obviously…”for his analysis of trade patterns and location of economic activity.” \u00a0This is a single analysis. \u00a0Basically, before Krugman trade theory was simply a matter of factor endowments. \u00a0To take an example I use in class, in the old trade theory we had manhole covers made in India and in Michigan. \u00a0India had cheap labor, so focused on making them using a technology that used lots of labor. \u00a0In Michigan capital was comparatively cheaper, so the covers were made in a more automated process that minimized labor. \u00a0Trade patterns were based on who had more labor or more capital, more land and natural resources, etc. \u00a0Krugman changed all that. \u00a0Some people have tried to say it’s both trade and economic geography, but I read both as coming out of a single research agenda, one of many he’s had.<\/p><\/blockquote>\n

Krugman is an example of someone who is perfectly capable – indeed, brilliant – in his actual field; he’s also an example of how excellence doesn’t always translate between fields.\u00a0<\/p>\n

Sort of like how “being on the Harvard Law Review” doesn’t necessarily mean “great leader”.<\/p>\n

Congrats, Krugs (as all of us pals of his call him).\u00a0 Someday, we’ll teach you how to write a coherently-reasoned column.<\/p>\n","protected":false},"excerpt":{"rendered":"

Flash: \u00a0Conservatives heads exploded simultaneously at the announcement of political gadfly Paul Krugman’s Nobel Nah.\u00a0 Head is firmly in place.\u00a0 Being a conservative, I look at issues on their merits, using actual data and facts. King, who has a vocational reason to remember Nobel Economics Prize trivia,\u00a0has the inside poop: If you’ve read here before, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,4],"tags":[],"class_list":["post-3473","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-media"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3473"}],"version-history":[{"count":0,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3473\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3473"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}