I so love it when scientists take the time and effort to unleash the full power of their arsenal in the service of taking snippy dilettantes down a few pegs. I know Sully and Gherald will be hurt that this guy trained his sights on their BFF, Megan McArdle, but – well – the full post is just too delicious:

Megan McArdle in fact knows very little — not nothing, but not much either — of the formal apparatus of modern economic thought, nor of the rich bodies of content knowledge real economists have developed on a number of important questions, including, most important for the present discussion, medical economics and political economy…

I don’t read McArdle much because I know she doesn’t know what she’s talking about, and the glibness of her ignorance and the infantile quality of her ideology (that brand of libertarianism present in populations that include my nine-year-old and that can be summed up “you can’t tell me what to do”) piss me off. Why read annoying, uninformed –if glibly written — dreck?

Read the whole post, you’ll be glad you did.

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  1. Gherald says:

    Ah, the perfunctory ad-hominems, stuff about her MBA and how much she doesn't understand. Reads like a typical anti-Megan screed from the left, and there have been many. There's a reason we affectionately refer to Megan as "the left's least-favorite MBA blogger"

    I smirked when I read her saying "An academic identifies targets. A pharma researcher finds out whether those targets can be activated with a molecule", but it's a good thing nobody reads Megan for biomedical research insights. In fact, what academic and pharma researchers do is more similar and interrelated than she thinks. They differ in some ways--one is more applied than the other--but academic researchers have many of the same for-profit incentives. They want to file a patent on manipulating "molecules" just like everybody else.

    I worked in academic research a few years ago, managing a database of drug and lab results for thousands of patients, so I know a bit about this. The interaction with pharma was always important--that's where grant money to research specific, hoped-to-be-profitable things came from. So I know Megan's broader point about pharma research is sound.

    I don't think there's much worth saying about the rest of the post. Modern liberals have been calling libertarian analysis naive, childish, and "glibertarian" since long before I was born. While libertarians think them arrogant, overconfident, and blind to unintended consequences.

    • Metavirus says:

      well, i've never understood your fascination with mcardle but you are welcome to enjoy whatever flavor of ice cream you like. it's interesting that you mention "unintended consequences". a routine failure to take account of unintended consequences and the practical real-world implications of policy positions based on narrow ideology is one of the main reasons why i've drifted away from much libertarian thought over the years (with notable exceptions of course , e.g., legalizing drugs, etc.)

      • Gherald says:

        If it's fascination to think many of her posts on economics and politics are worth reading, including this one Andrew and I thought a must read, then I suppose you can color me fascinated.

        But it's hardly particular to me. As the first commenter put it at the post you link to:

        I have a Phd in economics and I enjoy reading both Megan’s blog and your own.

        In my opinion Megan shows an extremely strong understanding of economic analysis. Her intuitive grasp of microeconomics and public choice theory exceeds that of most academic Phd economists.

        If there's an economist out there with a blog that covers Megan's topics better than she, I haven't come across it. Who do you prefer to read?

        A couple weeks ago, the WSJ listed hers as one of the top 25 economics blogs. Before the Atlantic, she worked for the Economist and its Free Exchange blog. Do you suppose they're in the business of hiring "snippy dilettantes" who "know nothing of economics or political economy, beyond that minimum of jargon needed…" ?

        Please.

        • Metavirus says:

          i admit she did have a couple of insightful posts in the political sphere back during 2008 that I read. as for the economics side of the equation, i've wandered over to occasional posts of hers via you and sully from time to time. i've never found any of her economic arguments very convincing, because -- in the main -- she strongly echoes the strain of do-nothing, can't-mess-with-the-free-market-no-matter-what thought within the libertarian/conservative movement that slowly drove me away.

          • Gherald says:

            As a blogger she's light years beyond my league. I'm surprised you can stand my amateur rants and not her much more carefully reasoned posts. If a top 25 economics blogger is dilettante then I think we need to create a new word for me, as I really thought this was my department!

            But I'll ask again: Who do you prefer to read on economics? I don't see any econ blogs on the right, not even major guys like Yglesias or Ezra who don't strictly focus on it but are a lot more literate than average liberal bloggers.

  2. Metavirus says:

    On the dilletante side of things, I don't have any problem readingaverage folks with interesting thoughts who don't hold themselves outas experts in any sense of the word (eg you and me). I get suspiciouswhen people without the training to call themselves an expert in afield do so (and, no, in my mind, an MBA is not sufficient training tobe considered an expert in economics).As for who I read, I get most of my economics from The Economist(which I would characterize as a great example of realist, pragmaticlibertarian-in-the-model-of-european-liberalism thought) and,sometimes random people like paul krugman.

    • Gherald says:

      I get suspicious when people without the training to call themselves an expert in a field

      You're going to have to point me to an example of Megan calling herself an expert on something she isn't. In the year or so that I've been reading her blog, she's been quite up-front about her academic qualifications whenever it's relevant, which it rarely is.

      Since when do we expect successful bloggers to be scholars? Do you read Andrew because he has a PhD in government, or because he's a popular blogger with many interesting things to say? Is Ezra Klein's health wonkery less relevant because he only has a BA in political science? Are you concerned that Matt Yglesias has only majored in philosophy?

      What's so special about economics? Why can't someone who comes from a related field--Wall Street finance and journalism, in Megan's case--have informed things to say about economics and associated policy matters? And how can you even begin to justify the claim that she "knows nothing of economics or political economy, beyond that minimum of jargon needed…" ?

      I can understand disagreeing with someone who's views and analysis you don't like. But pretending someone with Megan's considerable knowledge & understanding never knows what she's talking about is absurd.

      Perhaps you should read Megan taking down someone who genuinely "knows nothing of economics or political economy, beyond that minimum of jargon needed" for a better feel of what that's really like.

  3. Metavirus says:

    Back to the grind, back later.

  4. Gherald says:

    Ezra's response is a lot more worthwhile than the one linked in the post above. I'll probably reply to the non-obesity portion if Megan doesn't. (She's already fairly-deeply engrossed with the obesity issue in her subsequent posts, which you can read if you care)

    Edit: Ok here's a good comment there:

    Megan's post was painfully light on actual stats and painfully heavy on speculation, but this part from Ezra is just unconscionably bad:

    "Without Medicare, in fact, there would be a much smaller market for medical innovations, as a substantial portion of the elderly would not be able to afford heath-care insurance — much less unlimited health-care insurance — and could not pay for these innovations. National health insurance for the elderly, in other words, is one of the primary drivers of medical innovation."

    Yes, national health insurance that operates with practically zero cost controls, has an unfunded liability of $90 trillion, and pays for a lot of very expensive, needless and possibly harmful treatment. Are you suggesting that national health insurance should operate like Medicare does today? Because if you are suggesting that we bankrupt the country, and if you're not then your point is a ridiculous non-sequitur.

    Basically what we have here are three facets:

    -innovative
    -cheap
    -government-run

    Choose two.

    There, I basically summed up libertarianism's general policy view. The facts seem to largely bare it out--in the case of healthcare, and in general.

    In his reply, Ezra chastises Megan for not analyzing the innovation in detail. That is because she's generally more focused on costs. But she also doesn't want a cheap system if it loses too much innovation and makes our future and also the whole world worse off (because other countries with socialized insurance, like Canada, import a heck of a lot of U.S. R&D)

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