Is It Fair to Extrapolate to the Entire US Economy These Kinds of Agreements?

I think we should be really hesitant about extrapolating too much from the micro to the macro, even from the state level to the US economy. John List has this book called The Voltage Effect that just came out talking about how when we scale up policies, the effects greatly diminish. And so you have a higher trajectory through time as well. It's just that there are lots of margins that people can adjust on. And so the effects are all kind of muted as we get bigger and bigger.