51–60 of 386 posts
This highlights an unspoken danger of AI. People are up in arms about AI taking jobs in Human Resources, customer service, low level coding, etc. But education will take a massive hit. PhD, masters and even BS degrees will be devastated. Unless an individual has documented real benefits to a bottom line of some business, the CV will be window dressing. The only field that will continue to offer steady employment will…
I still couldn't quite grasp the underlying issue. People are not studying economics so schools are not creating those positions, but then it seemed to draw the line to people not studying economics due to the lack of positions in academia, so chicken and egg? I guess it's just that it compounds with the hiring freezes in the public sector mentioned? I came away feeling unsatisfied, is there a bigger cultural thing g…
My first thought is wondering if it's one of two things: A. The bottom half of PhD Economists are not being trained in the data science/Big Data side of analysis increasingly needed B. There is less demand for Theory-sided Economists over computationally trained ones
CS and DS people are getting more applied and gaining domain expertise, and can do a lot of economics work now. Academic economists, especially those who primarily do data science / big data, seem to basically be doing Masters-level data science projects for their Ph.D. The hard part in their Ph.D.s is collecting the data, which used to be a very manual job that relied on connections, but more of them are getting the…
This highlights an unspoken danger of AI. People are up in arms about AI taking jobs in Human Resources, customer service, low level coding, etc. But education will take a massive hit. PhD, masters and even BS degrees will be devastated. Unless an individual has documented real benefits to a bottom line of some business, the CV will be window dressing. The only field that will continue to offer steady employment will…
Dont forget the worlds oldest profession.
This highlights an unspoken danger of AI. People are up in arms about AI taking jobs in Human Resources, customer service, low level coding, etc. But education will take a massive hit. PhD, masters and even BS degrees will be devastated. Unless an individual has documented real benefits to a bottom line of some business, the CV will be window dressing. The only field that will continue to offer steady employment will…
Their predecessors should have done a better job managing the economy.
It tends to go the other way around; politicians and academia pick economists that favor the way they'd like economics to be managed. Consider that Ludwig Von Mises, one of the most famous economists never held a tenure track position. And Milton Friedman won a nobel prize, including a study of monetary history that damned the fed for helping bring on the great depression -- later nobel prize to Bernanke for works th…
Even today he would never have a chance at a reputable economics department -- only GMU gives any credence to that kind of witch doctor nonsense.
Their predecessors should have done a better job managing the economy.
It tends to go the other way around; politicians and academia pick economists that favor the way they'd like economics to be managed. Consider that Ludwig Von Mises, one of the most famous economists never held a tenure track position. And Milton Friedman won a nobel prize, including a study of monetary history that damned the fed for helping bring on the great depression -- later nobel prize to Bernanke for works th…
Earlier quoted context omitted.
My sampling of my interactions with young PhD economists is that they were all Neo-Keynesian, the only people I’ve met who are of the Austrian school were Engineers. I don’t doubt that the economics profession has been shaped by politics but it appears they are and have been rather willing participants.
Economics involves studying how the economy should be managed, it is an inherently political field. Declaring one school political and another non-political is itself a political sleight of hand.
Earlier quoted context omitted.
One of the more salutary effects of AI will be the removal of bad journalism and bad science (bad in the sense of slop).
Can I ask you why you think that will happen?
Yes, I was unprecise to the point of being wrong.