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O.H. Murphy's avatar

What are your thoughts on the economics of space travel? I've read Casey Handmer's excellent blog and it generally seems like space is massively overhyped relative to its economic value (https://caseyhandmer.wordpress.com/2019/08/17/blog-series-countering-misconceptions-in-space-journalism/, https://caseyhandmer.wordpress.com/2019/08/27/there-are-no-known-commodity-resources-in-space-that-could-be-sold-on-earth/). Satellites seem very valuable, but can you think of any other potential economic reasons to go to space?

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O.H. Murphy's avatar

Do you think something like The Journal of Economic Perspectives could exist in other fields, or is there something special about economics? If it could exist in other fields, what do you think would be needed to get something like that started? It seems like a potentially strong improvement to the epistemic ecosystem.

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Liam Baldwin's avatar

Maybe this transcends disciplines, but doesn’t the journal of controversial ideal serve a similar purpose?

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O.H. Murphy's avatar

I think I would actually put the two journals on opposite sides of a spectrum. The Journal of Economic Perspectives is meant to present approximately consensus perspectives while the Journal of Controversial Ideas is meant to present ideas that are specifically outside the mainstream

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O.H. Murphy's avatar

What do you think of DSGE models and have you encountered them in your graduate work? I'm thinking especially in relation to the critiques mentioned here: https://www.noahpinion.blog/p/macroeconomics-is-still-in-its-infancy.

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O.H. Murphy's avatar

What cases can you think of where economic theory was "overturned" by empirical evidence? I've heard this was the case with immigration (not reducing wages) and the minimum wage (not causing unemployment), though I understand it is still controversial. Are there other cases?

How do you think about the relationship between empirical and theoretical economic analysis and the ability of economics to make strong predictions? Some areas like auction theory seem very successful, but others are less clear (at least to me).

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Liam Baldwin's avatar

Any thoughts on the shift towards predocs in economics PhD admissions?

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O.H. Murphy's avatar

What is your understanding of the effect of US monetary policy on the welfare of developing countries? Does looser/tighter policy harm them at all? Is the effect mediated by local central bank policy?

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O.H. Murphy's avatar

How do you think inflation and unemployment compare in utilitarian terms (ignoring political effects)?

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O.H. Murphy's avatar

What do you think of the use of game theory in political science and international relations especially? When reading such work (Robert Jervis, Kenneth Waltz, etc.) I sometimes find it superficially convincing, but I also strongly agree with the general public choice-type critiques (https://www.astralcodexten.com/p/your-book-review-public-choice-theory) that often severely undermine it.

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