Monday, December 31, 2018

Unlearning

Scott Sumner, an economist at George Mason University, offers a case about why economics education shouldn't push behavioral economics so hard at an early stage of economics education.

"Behavioral economics" is apparently a blending of some basic economic theory with social science concepts that, at least as Sumner sees it, tends to dilute some of the essential economic information a basic econ course needs to teach. Instead, he said, the basic course should show students how data demonstrates that a lot of things that seem like they should make sense and work actually don't, and how economics can give someone a better idea of what really goes on.

I don't have nearly enough knowledge of the field to know whether or not all of the fallacies Sumner lists in his article are indeed fallacious, although I suspect he could offer some good data that show they are. What does resonate a little is that a big part of educating people is helping them unlearn things they know that aren't true. A person in my field spends a significant amount if his or her time doing exactly that -- probably more than once, and probably upon himself or herself as much as anyone else.

As in so many other fields, it's not that we don't know things. It's just that we know so many things that aren't so.

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