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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (531945)	11/24/2009 12:09:36 AM
From: TimF	2 Recommendations Read Replies (1) \| Respond to of 1575725

...A: "Based on our models of the economy, we believe there would be X million fewer jobs today without the stimulus." But it is absurd to suggest that you can say, B: "We have measured how many jobs the stimulus has saved or created, and the number is X." Economists are capable of making statements such as A, but it is beyond our ken to make statements such as B. Statement B is,of course, much stronger than statement A, as it purports to be based on data rather than on models. Unfortunately, we are hearing statements like B much too often from administration officials... gregmankiw.blogspot.com