Current Events > Imagine being this wrong and still having a job in economics

(+) Yeah! (+)

https://gamefaqs.gamespot.com/a/user_image/1/5/7/AARLwzAAEmeN.jpg

I'd say that has more to do with not understanding technology than economics.

To be fair nobody in 1998 expected the internet to become what it is now

GeraldDarko posted...

I'd say that has more to do with not understanding technology than economics.

Then maybe he should stop making comments about technology.

https://markets.businessinsider.com/news/stocks/chatgpt-artificial-intelligence-ai-economic-growth-paul-krugman-nobel-economist-2023-4?op=1

Considering the dotcom bubble burst literally the year after, it wasn't too wrong of him to think that. From an economics perspective I actually don't know how the internet companies recovered from it. Probably why the 2000s era with limited ads was so good, a time when youtube literally existed for years without anything even resembling an ad.

saspa posted...

Considering the dotcom bubble burst literally the year after, it wasn't too wrong of him to think that. From an economics perspective I actually don't know how the internet companies recovered from it. Probably why the 2000s era with limited ads was so good, a time when youtube literally existed for years without anything even resembling an ad.

The dotcom bubble was just a bunch of startups imploding. Established companies and the startups that didn't implode went on to become major players in the internet.

[LFAQs-redacted-quote]

Ok but CEmen aren't Nobel prize winning columnists for the new York times. It's ok if they're wrong.

Same energy:

https://gamefaqs.gamespot.com/a/user_image/1/0/5/AACd9tAAEIL5.jpg

Growth since the internet's widespread adoption has only barely kept pace with growth prior to that.

Tyranthraxus posted...

Then maybe he should stop making comments about technology.

https://markets.businessinsider.com/news/stocks/chatgpt-artificial-intelligence-ai-economic-growth-paul-krugman-nobel-economist-2023-4?op=1

He was wrong, it happens. Not sure why you have such strong feelings on this guy being wrong.

GeraldDarko posted...

He was wrong, it happens. Not sure why you have such strong feelings on this guy being wrong.

I don't know why you think I have strong feelings. I just think it's funny. You're reading way too much into things.

That's because economics is an unserious science. There is no punishment in the field for being wildly wrong; if such punishment existed, there would be no economists.

Yeah history has shown him to be wrong but who knows... 2 decades ago the idea of online dating was laughable, now literally everyone has adopted it. Not to mention the the more wider umbrella of social media in its entirety, when blogposts and "bloggers" were conceptually laughable.

Kitt posted...

Same energy:

https://gamefaqs.gamespot.com/a/user_image/1/0/5/AACd9tAAEIL5.jpg

I'm more interested why referring to ps1 as "psx" was so widely common in the 2000s it just makes no sense.

Tyranthraxus posted...

I don't know why you think I have strong feelings. I just think it's funny. You're reading way too much into things.

I thought that because you said he shouldn't even talk about tech. Experts get things wrong, that doesn't invalidate invalidate their expertise.

saspa posted...

I'm more interested why referring to ps1 as "psx" was so widely common in the 2000s it just makes no sense.

After the original Nintendo PlayStation was scrapped, they called the new one Playstation Next and abbreviated it PSX before eventually just releasing it as PlayStation. They later went on to release an actual "PSX" system but by then the old acronym was already in use.

GeraldDarko posted...

I thought that because you said he shouldn't even talk about tech. Experts get things wrong, that doesn't invalidate invalidate their expertise.

I don't really get what the heck is your hangup about this. You said it's because he doesn't understand tech and I pointed out he's still saying dumb things about tech decades later.

Tyranthraxus posted...

I don't really get what the heck is your hangup about this. You said it's because he doesn't understand tech and I pointed out he's still saying dumb things about tech decades later.

I totally missed that link. I see what your saying, there's a patter. I feel you.