They believe that due to appointment of noneconomist
to the post of finance minister, the country's economy had to face crisis and now they are hopeful for economic reforms from Khatiwada.
Trump broke with precedent in another way: He chose a noneconomist
. The Fed will face great challenges in the next five years, as it reverts to more normal policies.
Even a noneconomist
has to love his beautiful graphical presentations.
Rather, it is intended to assist the noneconomist
(nonpractitioner) who wants to analyze and interpret patterns of economic activity at the macro level.
Making the noneconomist
uncomfortable, without quite saying so, appears to be part of the point.
Often, when noneconomist
policy types talk about the rising economic influence of China or Russia, they prefer to discuss this phenomenon's ramifications for democracy or power politics or its offensiveness to political freedom.
That is the case because I place a very high value on the abilities that I know Hal has: he can separate the trivial from the important in selection of topics; he can be imaginative and rigorous in his use of data; he knows his economic theory and yet has not lost sense of the importance of returning to the real world; he understands the need to translate his findings to the noneconomist
and the importance of inferring policy implications instead of standing paralyzed in the face of uncertainty.
While economists have made a lot of progress in recent years in understanding key issues like institutions, collective action, and politics, the vast majority of noneconomist
social scientists (and indeed many economists) would argue that areas of social, cultural, and political action are best studied by the social sciences that specialize (and thus have a comparative advantage) in these topics--namely, anthropology, sociology, political science, and psychology.
They offer an excellent description of the concepts in layman's terms so a noneconomist
can understand the process.
Where the article falls somewhat short is that it liberally quotes from the early economists themselves when explanations in modern-day, noneconomist
English might have been easier for readers to understand.
may also be slightly overwhelmed by Friedman's notion of the optimal punishment for criminal offenses.