At INET's Conversation on the Economy with Joseph Stiglitz and Paul Krugman, we asked two Nobel laureates and got two different answers.
Krugman began by giving a nod to young economists and then pointed to a focus on empirics and humility when it comes to believing your own models.
But Stiglitz disagreed, saying that while empirics are important, economics has done plenty of empirical work in the last 30 years -- it's just been guided by bad theory. And "anything outside that lens they couldn't see," Stiglitz said. "They shaped all the empirics into that frame."
Who do you agree with?
Watch the complete video: [ Ссылка ]
