Soap Kit
Posted on Tuesday, March 23rd, 2010 at 8:23 am |
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Soap Kit
The MIT Connection, by Arnold Kling (Econlog)
Bloomberg News has an article on the many MIT economics Ph.D's currently in
top policy slots at central banks around the world. The article paints a rosy
picture of grad school life during the period when we were there, including:
>
Its emphasis on solving policy problems instead of perfecting theories... "We
turned out students who were actually interested in macroeconomic policy and
understanding daily events and not in showing off." [quote from Robert
Solow]... the emphasis at the university was on trying to understand "real
phenomena and how the world works" rather than seeking to come up with
elaborate theories or better techniques.
Oh, barf. Or, to put it more politely, these passages struck a false note. In
reality, the MIT training was all about the math. All about the math. Abstract
mathematical methods were known as "tools" and graduate education was about
"adding tools to your tool kit."
I think that Solow really was focused on useful economics as opposed to pure
math, but he was already being shoved aside by the young mathematical
theorists. The main message you learned in graduate school was that more
difficult math equated to better economics.
I failed to accumulate ...
Scientific Explorer Shimmer Soap Kit.WMV