Re: Martin Feldstein
If I'm not mistaken, Feldstein argued that social security reduced overall savings and therefore reduced investment. Two economists at the Social Security Adm. asked him for his data. It took a while but he sent the data to them, and they found out that there was an error in the computer program. When corrected, the results were the opposite of what he had argued. Of course, he never changed his original views, and I doubt ever lost a consulting job either. Just one more reason why neoclassical economics is an ideology and not even close to a science. Michael Yates [EMAIL PROTECTED] wrote: > > I lost my notes on Martin Feldstein regarding his attack on Social > Security. Someone pointed out -- I can't remember who -- that his data > was wrong. Feldstein later admitted this, blamed the error on a > programmer, and then launched his attack anew. Can anyone refresh my > memory on this? > -- > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail [EMAIL PROTECTED]
RE: Martin Feldstein
Lesnoy and Leamer did the debunking paper I think. Don't remember the particulars. mbs I lost my notes on Martin Feldstein regarding his attack on Social Security. Someone pointed out -- I can't remember who -- that his data was wrong. Feldstein later admitted this, blamed the error on a programmer, and then launched his attack anew. Can anyone refresh my memory on this? Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Martin Feldstein??
Who is this Martin Feldstein? Sabri
RE: Martin Feldstein??
Title: RE: [PEN-L:35771] Martin Feldstein?? and I was James G. Devin Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine stop the war now! > -Original Message- > From: Peter Dorman [mailto:[EMAIL PROTECTED]] > Sent: Wednesday, March 19, 2003 2:09 PM > To: [EMAIL PROTECTED] > Subject: [PEN-L:35771] Martin Feldstein?? > > > I just received an e-mail from ECAAR about the antiwar > petition that I > and many of you signed. As I scanned the ad copy with the list of > names, I was struck by the inclusion of Martin Feldstein. > OK, it wasn't > exactly Martin Feldstein but Martin Feldstei -- but then I was Peter > Dorma. So is it true? Do I have to rethink my position? > > Peter > >
Re: Re: Martin Feldstein
exactly. I am trying to rustle up the reference to the 2 economists. Michael Yates wrote: > If I'm not mistaken, Feldstein argued that social security reduced > overall savings and therefore reduced investment. Two economists at the > Social Security Adm. asked him for his data. It took a while but he > sent the data to them, and they found out that there was an error in the > computer program. When corrected, the results were the opposite of what > he had argued. Of course, he never changed his original views, and I > doubt ever lost a consulting job either. Just one more reason why > neoclassical economics is an ideology and not even close to a science. > > Michael Yates > > [EMAIL PROTECTED] wrote: > > > > I lost my notes on Martin Feldstein regarding his attack on Social > > Security. Someone pointed out -- I can't remember who -- that his data > > was wrong. Feldstein later admitted this, blamed the error on a > > programmer, and then launched his attack anew. Can anyone refresh my > > memory on this? > > -- > > Michael Perelman > > Economics Department > > California State University > > Chico, CA 95929 > > > > Tel. 530-898-5321 > > E-Mail [EMAIL PROTECTED] -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
Re: Re: Martin Feldstein
At 11:14 PM 04/15/2000 -0400, you wrote: >If I'm not mistaken, Feldstein argued that social security reduced >overall savings and therefore reduced investment. Two economists at the >Social Security Adm. asked him for his data. It took a while but he >sent the data to them, and they found out that there was an error in the >computer program. When corrected, the results were the opposite of what >he had argued. Of course, he never changed his original views, and I >doubt ever lost a consulting job either. even worse, he eventually became the head of the President's Council of Economic Advisors. >Just one more reason why >neoclassical economics is an ideology and not even close to a science. it's true that it's an ideology, but even perspectives that aren't ideologies can have dogmatists and/or fools in their ranks. (There are all sorts of biologists who falsely assume that their studies of critters apply to people without modification.) Anyway, it's wrong to tar neoclassical economics with Feldstein, since there are/were neoclassicals who disagreed with him. We have to remember that there are also people like Robin Hahnel (at American U.), who wield neoclassical economics for good rather than for evil... I don't believe that NC econ. is "just a tool," but Robin sure makes a good effort to convince me otherwise. Jim Devine [EMAIL PROTECTED] & http://liberalarts.lmu.edu/~JDevine
Re: RE: Martin Feldstein
thanks. I found it based on your clue: Social Security and Private Saving: New Time-Series Evidence (in Confirmations and Contradictions) Dean R. Leimer, Selig D. Lesnoy The Journal of Political Economy, Vol. 90, No. 3. (Jun., 1982), pp. 606-629. "Max B. Sawicky" wrote: > Lesnoy and Leamer did the debunking paper > I think. Don't remember the particulars. > > mbs > > I lost my notes on Martin Feldstein regarding his attack on Social > Security. Someone pointed out -- I can't remember who -- that his data > was wrong. Feldstein later admitted this, blamed the error on a > programmer, and then launched his attack anew. Can anyone refresh my > memory on this? > Michael Perelman > Economics Department > California State University > Chico, CA 95929 > > Tel. 530-898-5321 > E-Mail [EMAIL PROTECTED] -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
RE: Re: Martin Feldstein??
Title: RE: [PEN-L:35772] Re: Martin Feldstein??
he's a very conservative economist at Harvard, famous for faking results that made Social Security look bad (or perhaps he made a mistake that he didn't notice because it fit with his preconceptions). He's the economic godfather of Greg Mankiw, the new head of the Council of Economic Advisors (to the US President) and an inspiration to the entire mainstream Reagan/Bush tradition. (Also important to Reagan/Bush has been Milton Friedman and Arthur ("supply side") Laffer. These two seem to have disappeared slowly in the last 20 years.)
Jim Devine [EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine
stop the war now!
> -Original Message-
> From: Sabri Oncu [mailto:[EMAIL PROTECTED]]
> Sent: Wednesday, March 19, 2003 2:22 PM
> To: PEN-L
> Subject: [PEN-L:35772] Re: Martin Feldstein??
>
>
> Who is this Martin Feldstein?
>
> Sabri
>
>
RE: RE: Re: Martin Feldstein??
Title: Message
He
is also President of the National Bureau of Economic Research, a very
presitigous private economic research organization. They have the official
word, for some reason, on announcing whether the country is in a recession or
not. More importantly NBER status determines whether academic economists
are considered to be "stars" or not. Feldstein had a falling out with
Reagan and resigned over the issue of budget deficits. Feldstein, at least
then, was a traditional fiscal conservative who believed in balanced
budgets. He keeps editorial cartoons on his office wall that are make fun
of Reagan's voodoo budget mathematics.
-Original Message-From: Devine, James
[mailto:[EMAIL PROTECTED] Sent: Wednesday, March 19, 2003 6:01
PMTo: '[EMAIL PROTECTED]'Subject: [PEN-L:35776]
RE: Re: Martin Feldstein??
he's a very conservative economist at Harvard, famous for
faking results that made Social Security look bad (or perhaps he made a
mistake that he didn't notice because it fit with his preconceptions). He's
the economic godfather of Greg Mankiw, the new head of the Council of Economic
Advisors (to the US President) and an inspiration to the entire mainstream
Reagan/Bush tradition. (Also important to Reagan/Bush has been Milton Friedman
and Arthur ("supply side") Laffer. These two seem to have disappeared slowly
in the last 20 years.)
Jim Devine
[EMAIL PROTECTED] & http://bellarmine.lmu.edu/~jdevine stop the war now!
> -Original Message- >
From: Sabri Oncu [mailto:[EMAIL PROTECTED]] > Sent: Wednesday, March 19, 2003 2:22 PM > To: PEN-L > Subject: [PEN-L:35772] Re:
Martin Feldstein?? > >
> Who is this Martin Feldstein? > > Sabri >
>
