Opinion | The Trump administration has turned the idea of an impartial White House economist into a partisan game.
Economists disagree about policy all the time, but almost always in good faith.
Simon W. Bowmaker is Clinical Professor of Economics at the Stern School of Business, New York University. Paul Wachtel is Professor of Economics at the Stern School of Business, New York University.Visit Business Insider's homepage for more storiesEconomists like to think of themselves as scientists in search of a single truth. But, dispute and debate are more the rule than the exception.
However, beyond the policy divide lies a common framework for analyzing the world that until now has spanned the partisan divide. Economics may not be a science but it shares a respect for analytical frameworks, disciplined thinking, and investigations of the facts. Doing economics is not Democratic or Republican which is precisely why the profession had much to add to policy discourse in the past.
"I made a point of calling not just Republicans but also Democrats like Charlie Schultze, which was very useful," Boskin recalled. Most of the models showed significant deaths extending into the summer. But one projection, inexplicably, showed a smoothed curve —called in the technical lingo a cubic fit — with deaths disappearing by mid-May. That last curve did not belong on the chart. It was the wrong approach to understanding the data and has no basis in the underlying epidemiological issues.
A firestorm of recrimination emerged as Tomas Philipson, the current acting CEA chair, accused Furman of being the only chair without peer-reviewed scientific work, a painful, if true, schoolyard taunt for academic economists.
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