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Meet a Real Life Economist Who Hates Economics Bloggers!

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Hi, it's me, just a chronically stupid economics blogger and general threat to the public order. I hate to interrupt, but do you remember that Richmond Fed economist, Kartik Athreya, who made news late last month after writing that economics bloggers are chronically stupid and a general threat to the public order?

The gist of his polemic (a phrase I hope no one ever hears me utter in person) was this:

So far, I’ve claimed something a bit obnoxious-sounding: that writers who have not taken a year of PhD coursework in a decent economics department (and passed their PhD qualifying exams), cannot meaningfully advance the discussion on economic policy. Taken literally, I am almost certainly wrong. Some of them have great ideas, for sure. But this is irrelevant. The real issue is that there is extremely low likelihood that the speculations of the untrained, on a topic almost pathologically riddled by dynamic considerations and feedback effects, will offer anything new.

Fair enough. Taken as a whole, this is a bit more innocuous than the soundbite version -- "bloggers are chronically stupid" -- that made the media rounds. But that's not why we're here... because I am busy blogging! Also, threatening the public order by posting a video. Incredibly, it's not even a video about cats! Instead, it's a video of Richmond Fed economist Kartik Ahtreya, which allows us, the general blogging and blog-reading public, to meet him!

Click the image below to play this un-embeddable video so you can MEET AN ECONOMIST!

Two things:

1. About three-quarters of the way through the video, Athreya states, "Collateral is critical to borrowing large sums of money." I'm fairly confident the past two years have taught us that collateral is actually pretty irrelevant, at least for banks, when borrowing large sums of money.

2. A few moments later, Athreya says, "Everyone should care about economics." Which is true, but apparently only as long as they don't try to write about it.

Anyway, now you've met an economist!
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