NATURE RUNS SOME EXPERIMENTS.

NATURE RUNS SOME EXPERIMENTS. I have posted here and here on Professor John Meyer’s warning that “Nature does not run very good experiments.” That is, nature doesn’t make the right kinds of changes in variables to let us make a computer model of the economy or find out the underlying economic relationships. Among other problems, because a number of variables move in the same direction at the same time, it is difficult to untangle causation. It occurs to me that nature is running some very good experiments right now which will serve to provide graduate students with material for dissertations for years to come.