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Freaks and Geeks; How Freakonomics is ruining the dismal science. | The New Republic

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How Freakonomics is ruining the dismal science.

Related Links: Steven Levitt’s response to Scheiber’s argument, and Scheiber’s response to Levitt. One of the few papers I actually read as a grad student was written by a pair of economists named Josh Angrist and Alan Krueger. In the early ‘90s, Angrist and Krueger set off to resolve a question that had been gnawing at economists for decades: Does going to school increase your future wages? Intuitively, it seemed obvious that it did. When you compared the salaries of, say, Ph.D.s with those of high-school dropouts, the grad-school set almost always did better. The question was whether educati

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