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For all of those that disagree with his methodology or conclusions, if you can reach him, I recommend putting your money where your mouth is and proposing a different bet with Dr. Caplan.
I see a lot of people in the comments offended by his tone. I see his tone as analogous to a soccer player celebrating after a goal. We should socially encourage such behavior for those who win fair intellectual bets. (Although there is such a thing as unsportsmanly gloating, although I don't think this is such an example.)
What's the hypothesis? Where's the valuable data gotten from this?
My idea of equivalent action: Me stating "the president 10 years from now will be the first 3rd party president ever."
Why? Who knows! And if I was right, and make a blog post that says "See, I was right!" And then point to a bunch of things that happened after my prediction that led to this result, what did we learn? Anything at all?
Insofar as I'm aware it mostly means that US unemployment is under-reported.
The labor force participation rate has yet to fully recover from its pre-2008 levels, and you're not counted as unemployed if you worked an hour the previous week.
European countries, by contrast, have mostly not changed their definitions of unemployment since, and have a relatively sane definition of what it means to be employed. This is not to say it's perfect -- far from it. But at least they're not counting 1h/week Uber drivers as employed.
See e.g.:
https://qz.com/877432/the-us-unemployment-rate-measure-is-de...
I know nothing of the people or personalities involved...but this does not give me a good impression of the author. First, he never refers to anyone with a contrary opinion in any way other than "apologist". Second, he never addresses any other value than the unemployment rate as a number (for example, I can easily imagine an "apologist" being uninterested in his bet if they think he might be right about the numbers, but they value the regulation for other reasons). In never addressing their views, he dismisses them as unworthy.
I'm poorly versed in economics so I don't really have an opinion on the actual matter under debate...but I can easily see him writing a smug and self-congratulatory article on this topic that nonetheless gave me a better opinion of him.
Dr. Caplan reached out to the other economists and they didn't respond (which could have included proposing a different bet with different values). He is very judgy about public intellectuals that don't bet on their claims. I wouldn't call that dismissive because said intellectuals impose massive costs on society if they're wrong. It's not enough to hide behind unquantifiable hopes.
> I know nothing of the people or personalities involved...but this does not give me a good impression of the author. First, he never refers to anyone with a contrary opinion in any way other than "apologist".
Apologist is a bit of a brash word, but it's a possible conclusion if a public intellectual is unwilling to put their ideas to tests and revise if necessary.
https://drive.google.com/file/d/1jKepii1hL9e-gkAsz906nRtgssz...