tag:blogger.com,1999:blog-11906042.post5382990458316495805..comments2024-03-18T17:17:00.423+13:00Comments on Not PC: FRIDAY MORNING RAMBLE: The ‘name it yourself’ editionPeter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-11906042.post-18268146825501516532010-08-06T21:46:38.804+12:002010-08-06T21:46:38.804+12:00Actually, I'm mostly with Matt here. Condensi...Actually, I'm mostly with Matt here. Condensing and conveying info has value. And he's not wrong on timing either: I'd heard Austrians talking about the coming big crash from, well, about the time I started hearing the Austrians.<br /><br />But I think Matt's wrong about the critics not having seen what macroforecasters do. They're just talking about a different branch of forecasting.Eric Cramptonhttps://www.blogger.com/profile/15831696523324469713noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-89906396083007904712010-08-06T17:36:34.764+12:002010-08-06T17:36:34.764+12:00Rex Bionics — brilliant!! Check out the entreprene...Rex Bionics — brilliant!! Check out the entrepreneurs who are investing in these ideas...<br /><br />http://www.no8ventures.co.nz/companies/companies_default.aspxJamesonnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-46089994680969068792010-08-06T15:59:40.942+12:002010-08-06T15:59:40.942+12:00"Well, Roger Garrison has just got on and don..."Well, Roger Garrison has just got on and done it—or lat east, he’s put into easily understandable graphic form the capital-based macroeconomic model"<br /><br />These models are as "micro-based" as current macro-economic models.<br /><br />In fact I'd go as far as saying they had the same relative price story of a lot of macro models - which is why everyone was expecting a crash "eventually", but peoples ability to pick timing was well off.<br /><br />I don't have compelling evidence that Austrians had a better out of sample performance at picking the timing - however, if there is evidence of such I would be happy to see it.<br /><br />My main defence of macroforecasters isn't on the accuracy of their forecasts - it is based on the fact that they provide a service that discusses risks and condenses information. Criticising macroforecasters without actually looking at what they do seemed inappropriate - and so I had to say something.<br /><br />I mean, these guys are transparent with what they provide for their clients - would we attack workers in any other industry when their employment comes from voluntary trade?Matt Nolanhttps://www.blogger.com/profile/05615455113796090765noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-91761005486385581512010-08-06T14:49:19.478+12:002010-08-06T14:49:19.478+12:00PC: Check this out. O'Donovan rocks.
It real...PC: Check <a href="http://offsettingbehaviour.blogspot.com/2010/07/absolutely-moronic.html" rel="nofollow">this</a> out. O'Donovan rocks.<br /><br />It really has to be frustrating for him to get paired with Nana on this kind of thing. O'Donovan knows his stuff. Sure, he's not an Austrian, but he's good mainstream. Nana on the other hand....Eric Cramptonhttps://www.blogger.com/profile/15831696523324469713noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-33240111364565015322010-08-06T13:14:23.519+12:002010-08-06T13:14:23.519+12:00Haha, Krugman took a beating from knowledgeable co...Haha, Krugman took a beating from knowledgeable commentators on his own blog. Now he resorts to moderation in order to eliminate the comments from those knowledgeable commentators because he (Krugman) knows that he is being exposed (knowledge-wise) by people who are superior to him. Those knowledgeable commentators have exposed him as a kindergarten economist.<br /><br />I suspect that this is the reason I am being moderated at RedAlert blog for similar reasons. Clare Curan labelled me as a troll but she was making an excuse, because I have exposed all of the RedAlert bloggers frequently in various topics, where they could debate with me (from minimum wages to property rights, etc...). See, if they had the knowledge, they love to have me a full time sparring partner with them, but because they know that I can always give them a left hook and an upper cut right hook in the debates, they therefore think that I am a troll and therefore should be moderated.Falafulu Fisinoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-55772222487036514092010-08-06T11:57:48.034+12:002010-08-06T11:57:48.034+12:00I missed that, I'm afraid. What was the gist?...I missed that, I'm afraid. What was the gist?Peter Cresswellhttps://www.blogger.com/profile/10699845031503699181noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-37785653292128321692010-08-06T11:49:26.462+12:002010-08-06T11:49:26.462+12:00I'm not sure that O'Donovan would even mak...I'm not sure that O'Donovan would even make my list of NZ economists needing a smack for saying silly things. Indeed, he often does very well indeed. Did you hear him smacking Nana around a few weeks back? It was priceless!Eric Cramptonhttps://www.blogger.com/profile/15831696523324469713noreply@blogger.com