Celebrity Experts, by The Zman

Politically motivated “experts” are often wrong because their predictions are a product of their ideology. From the Zman at theburningplatform.com:

A few years ago Greg Cochran pointed out that western economists had been very wrong about the economic condition of the Soviet block countries. Paul Krugman had claimed that the East German economy was 80% of the West German economy. When the wall fell, what was revealed was a backward economy with environmental devastation and low quality consumer goods. All of this was obvious from the outside. All you had to do was take a look at the cars, which were a joke compared to the cheapest western cars.

The reason western economists were so laughably wrong about the Soviet economy is that it was worth their while to be wrong. The Left side of the ruling class wanted to believe the commies were doing well. They owned the media and the academy, so it is not hard to figure out the rest. That, of course, calls into the question the integrity of the field, but in reality they just believed what was convenient. Even PhD’s can delude themselves if it has social value. You see that in this post by celebrity economist Tyler Cowen.

Will Ethiopia become “the China of Africa”? The question often comes up in an economic context: Ethiopia’s growth rate is expected to be 8.5 percent this year, topping China’s projected 6.5 percent. Over the past decade, Ethiopia has averaged about 10 percent growth. Behind those flashy numbers, however, is an undervalued common feature: Both countries feel secure about their pasts and have a definite vision for their futures. Both countries believe that they are destined to be great.

Consider China first. The nation-state, as we know it today, has existed for several thousand years with some form of basic continuity. Most Chinese identify with the historical kingdoms and dynasties they study in school, and the tomb of Confucius in Qufu is a leading tourist attraction. Visitors go there to pay homage to a founder of the China they know.

This early history meant China was well-positioned to quickly build a modern and effective nation-state, once the introduction of post-Mao reforms boosted gross domestic product. That led to rapid gains in infrastructure and education, and paved the way for China to become one of the world’s two biggest economies. Along the way, the Chinese held to a strong vision that it deserved to be a great nation once again.

To continue reading: Celebrity Experts

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