(Mish Talk) I read with horror that the Economics Profession Has a ‘Race Problem’
But I am pleased to report a success story.
“Ms. Francis, who now teaches at the University of Massachusetts Boston, ultimately completed a doctorate in public policy and economics at Duke University. She thrived there, she said, in part because of mentorship from Sandy Darity, a professor who has gained prominence for his research arguing for reparations for blacks descended from American slaves.”
What could possibly be more beneficial than studies on reparations for slaves based on events of hundreds of years ago?
I can only come up with one thing.
If Einstein had been a black or female, his theories would have had more meaning.
My inescapable conclusion is that we need more female theorists.
- Why don’t we have a serious discussion about the Einstein Gender Gap?
- What about diversity in math? Surely it matters more if a woman says 1+1=2 than if a man does. Or do we need to promote 1+1=3? One never knows these days.
- What about diversity at the Fed?
Q. If former Fed Chair Janet Yellen was black, would that have changed anything?
A: No. You have to think like the rest of the Fed to get in the group.
Good Ole Boy Network— Mike "Mish" Shedlock (@MishGEA) January 3, 2020
To become a Fed president you have to think, believe, and act like a good ole boy.
Janet Yellen is best not thought of as a woman, but rather a good ole boy.https://t.co/mqIKBl4q1g
Diversity at the Fed Needed
Instead of more women or blacks on the Fed, I suggest we try actual diversity of economic opinion and not gender for gender’s sake.
What’s most needed on the Fed is an Austrian economist who proposes dissolving it. That would be diversity.
Instead, expect more group think nonsense about race and the Phillips Curve.