Posts Tagged ‘Voodoo Economics’

More Voodoo

February 25, 2009

I half-promised myself that I would quite ‘reporting’ on the voodoo-debate. I cannot help it, however; it reaches new levels all the time. The latest attack posted on Gristmill, an environmental blog, generated so hatefull comments that John Whitehead of Env-Econ didn’t want to post his own comment there:

I’m sorry to say I don’t have skin thick enough to comment over at Grist given the hate your post brewed up.

I understand John; here are some samples from the comment section on Gristmill:

economists are arrogant whores

Economics, a science? Don’t make me laugh. […] [E]conomics is about as much science as astrology. Listen to an economist sometime. They always pepper their comments with some kind of jingoistic pro-American boilerplate, usually to cover up the fact that they haven’t a clue about what they just said

Voodoo economics (it’s all a quack religion) and actual science do not mix.  They don’t even seem to understand math principles like exponential change.  Could they be turned into Walmart greeters?  Would Walmart want economists?  Doubtful.

Tim Haab, also of Env-Econ, took the time to sit down and write a brilliant reply to the attack from Gristmill. Some of the anger from the Greens is rooted in economists suggesting that combining green jobs and the stimulus package to the American economy is not necessarily a good idea. Tim:

 It seems odd that Roberts would accept suboptimal stimulus and suboptimal green jobs policy when economists are arguing for good stimulus and good green jobs policy.  As John has said many times–stimulus is short term, green jobs is long term.  Why put bad green jobs policy and bad stimulus in place when we could have both with a little patience and thought and dare I say economics.

And from the comment section (still Tim):

I think there are two different time dimensions. There is immediacy on stimulus and less urgency for green jobs. It’s this difference in time that leads me to urge patience on green jobs.

I can hear the argument 5 yeears from now:

Environmentalist: “OK, now that the recession in over, we can really tackle renewable energy.”

DC: “What do you mean? We threw $XX billion at it back in 2009 in the stimulus package(s). You got your piece.”

Environmentalist: “Yeah, but that wasn’t the right policy, it was just a band-aid.”

DC: “Shouldn’t you have thought about that then?”

Economist: “We did.”

I do, as the commenter Patrick Walsh, find comfort in that economists seem to act most like adults in the debate:

I am comforted by the fact that the response to the attack on [Environmental Economics] has been economists trying to paint the full picture and fill in the details. I have not yet seen a counterattack, where economists bash enviros. This optimistic observation provides hope that there is significant room for collaboration, in the spirit of Tim Haab’s original post.

Related posts:

Economists vs. Environmentalists

February 21, 2009

The voodoo climate-economics debate continues. Common Tragedies calls the bashing of economists on Climate Progress evidenceless and reveals a big problem with Joe Romm’s critique: 

Fortunately a prescient cohort of superintellects headed up by Joe Romm have calculated the true costs of climate action and inaction, and mapped out the optimal sequence of investment and innovation, which they will reveal to the world at some point in the very near future, making all the mainstream economists look like IDIOTS.

That is almost the ‘if-you-cannot-do-it-better-yourself-then-shut-up’ argument, which never applies (I’ll expound on why someday; remind me). Romm has more problems with his critique, however. As the TerraPass Footprint blog points out (Environmentalists and economists engage in slap fight while world burns), Romm quotes and uses results from economists in his arguing when they agree with his point of view, but still dismisses the economic science. “Which is it?” asks TerraPass,

The media is to blame for underreporting the awesome job economists are doing building a case for action on climate change? Or economists are a planet-destroying scourge? It can’t really be both.

The TerrePass post continues

I’m picking on Romm here, but this sort of commentary is fairly endemic to the green blogosphere. And it’s unfortunate […] [T]here is in fact a lot of prominent and dubious economic research on climate change that deserves proper critique, rather than unhinged broadsides against an entire academic discipline.

Romm do come up with some (but not only) proper, well-argued, and specific critque against specific economic research, but does the error to dismiss the entire discipline on the basis of specific examples. Furthermore, he does so inconsistently, as TerraPass already has pointed out, by recognizing only the results he agrees with. There are reasons (here is more) to be sceptic towards Climate Progress, in other words.

Hat-tip: Env-Econ

Related posts:

Joe Romm’s bashing of economists on Climate Progress:

From Environmental Economics:

From various blogs: