Tuesday, March 13, 2012

Settled economic science

Obviously there's no such thing as "settled" science and, less obviously, maybe we shouldn't call economics a science.  At any rate, there are a few things that nearly all economists agree on. 

The business school at the University of Chicago has assembled an experts panel that is designed to be representative of the views of the broad mainstream of the economics profession.  Every week or so a statement is sent out to the panel and they respond by agreeing or disagreeing.  Some of the statements are poorly worded, so some of the panel's responses are more interesting than others.  A few of them, however, are well worded and provide a clear consensus:  Tax Reform, Rent Control, and Free Trade