Life among the Econ, part II (Pritchett edition)

“While all economists might share some commonalities from selection and training there are huge differences across the sub-specialties of the discipline. The clan called “open-economy macro-economists” deal with crises in which interventions are dramatic, dependent on decisions of few people, and in which outcomes are measured in days and weeks and two quarters is a long horizon. In contrast the clan called “development economists” typically deal with chronic problems which rarely have discrete interventions, societies (not outsiders) are primarily determinative of outcomes, and in which a decade is the short-run, not the long-run.”

Much more here, including this:

“an obvious “tell” of a development amateur is saying any of the following:

“It’s easy.”
“We can do this quickly.”
“We have a solution for every problem.””

 

One thought on “Life among the Econ, part II (Pritchett edition)

  1. Yes, it’s true that every problem has a solution, but we need to be determined and passionate about it, I believe that if we are good on economists then we will be able to succeed. I am lucky that I am trading with OctaFX broker and using their service gives me great benefit because they have cTrader demo contest, it has 400 USD prize so that’s why I love to work with them, it gives me enough to chance to practice and I am able to enjoy everything.

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