3min chapter

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#87 – Russ Roberts on whether it's more effective to help strangers, or people you know

80,000 Hours Podcast

CHAPTER

The Importance of Common Sensibility in Economics

Sally Kohn: I feel like you brought down the empirical research thing. You talk about how macroeconomics is not a science and we just don't really have very reliable knowledge in macroeconomics at all because it's based so much on theoretical reasoning. But then there's other cases where you really do put a lot of weight on theory. And I wonder whether you fully thought through about whether it's consistent. She says, "I think that the idea that raising minimum wage is help some workers is 100% true, at least in the financial sense"

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