ECON 101 Lecture Notes - Lecture 5: Main Source
Document Summary
What and why economists argue with each other: Economists have a reputation for reasoning together. One significant response is that media reporting tends to exaggerate actual differences of opinion between economists. When there"s any problem that influential economists take to opposite sides. Example:whether tax cuts will benefit the economy right now that makes a good news story. Learn much more about the domains of economic conflict than you do about the wide areas of consensus. It is also worth noting that, ultimately, economics is always mixed up in politics. While the appearance of disagreement among economists surpasses the truth, it remains true that economists often disagree about important matters. Example: some widely respected economists argue vehemently that the united. States government will replace income tax with a value-added tax (a regional sales tax, which in many european countries is the main source of government revenues) Many economists which are equally regarded disagree.
