November 8th, 2017

"State-funded science at its best"

A typical discussion with a mainstream economist.

Me: What metric did you use to measure innovation?

Her: Firms were asked whether they introduced an innovation in a given year, and if they responded yes, we coded it as 1.

Me: Do you think it's a good way to measure innovation?

Her: Well, we had no other data and we needed to do the study.