An Answer to Truman's Prayer?
By Arnold Kling
Each week since late September, along with 37 other economists at top universities, we have been answering questions on major public policy issues…
Schamelensee was on my dissertation committe. President Truman reportedly prayed for God to send him a one-handed economist. This poll of experts is designed to illustrate that there really is a consensus among economists on some issues. The main page is here. Somebody should tell them about RSS.
On taxing high earners, the consensus is that this would raise revenue at the margin but not by enough to wipe out half the deficit.
I find the polls very interesting. For example, on the stock market, weak market efficiency has no dissenters, but strong market efficiency has no supporters.
It strikes me that some of the questions are posed in such a way as to foster agreement, where slightly different formulations would have exposed disagreement. For example, nobody asked, “Are we in a liquidity trap, so that there is no way to get back to full employment quickly without fiscal stimulus?”
Thanks to Tyler Cowen for the pointer.