tag:blogger.com,1999:blog-6297413898275266606.post4120850873433149375..comments2024-03-27T18:15:59.096+08:00Comments on Economics Malaysia: Counterfactualshishamhhttp://www.blogger.com/profile/06265308095732759923noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6297413898275266606.post-10219086774536605692013-10-24T17:07:49.588+08:002013-10-24T17:07:49.588+08:00@anon 4.51
Absolutely right, especially that last...@anon 4.51<br /><br />Absolutely right, especially that last bit...hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-81984367346860065172013-10-24T16:51:09.717+08:002013-10-24T16:51:09.717+08:00Without reference to counter-factual thinking, all...Without reference to counter-factual thinking, all bad decisions made during good times will look like good decisions since good times generate positive outcomes regardless of government incompetence, and all good decisions made during bad times will look like bad decisions because the government is ultimately trying to limit damage rather than generate positive outcomes. That's no way to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-53569831009045362432013-10-24T03:45:11.125+08:002013-10-24T03:45:11.125+08:00@anon 6.44
Actually, counterfactuals is pretty mu...@anon 6.44<br /><br />Actually, counterfactuals is pretty much the whole basis of economic "science". Since we cannot conduct experiments, we build models instead. It's more about framing the proper research question, not a denial that things can be analysed.<br /><br />Who said counterfactuals can't be measured?<br /><br /><a href="http://econsmalaysia.blogspot.com/2010/08/hishamhhttps://www.blogger.com/profile/06265308095732759923noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-1420362425945154222013-10-24T02:36:09.051+08:002013-10-24T02:36:09.051+08:00Actually this is a simple theory. Say, how much yo...Actually this is a simple theory. Say, how much youre supposed to drink in a day, 7/8 litres of water, really plain water ? That's what the doctors say to maintain your good health. Do we really drink that much or do we consume tea, coffee or other drink as well ? Some of course, beers and liquors.<br /><br />Now on a counterfactual, is this measureable ? Logically, yes but no body would givemaaehttps://www.blogger.com/profile/02244786457802569917noreply@blogger.comtag:blogger.com,1999:blog-6297413898275266606.post-3405957643093149072013-10-23T18:44:21.744+08:002013-10-23T18:44:21.744+08:00This "counter factual thinking" is a jok...This "counter factual thinking" is a joke. <br /><br />Imagine today we don't have any QE but other policies that is exactly opposite of QE. Since Keynesians believe that without QE, everything will be worse so the *likely* is that we also didn't create much jobs and the economy is bad.<br /><br />These policy makers can say the same thing - you need "counter factual Anonymousnoreply@blogger.com