[Marxism] Grad student who discovered Reinhart and Rogoff Excel error

michael perelman michael.perelman3 at gmail.com
Fri Apr 19 16:36:21 MDT 2013


Michael Yates is a bit wrong.  Feldstein never admitted that he made a
mistake.  It was the fault of a student assistant.


On Fri, Apr 19, 2013 at 3:09 PM, michael yates <mikedjyates at msn.com> wrote:

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>
> This was a student of my friend and excellent economist, Robert Pollin.
> Bob was skeptical at first, but he realized that his student (and the
> student's girlfriend) was right. This reminded me of the error made by the
> wretched Martin Feldstein, who made his name by arguing that the social
> security system lowered the rate of capital formation and hence the rate of
> economic growth. Two researchers at the Social Security Administration
> asked Feldstein for his data, and when, after a couple of years, he gave it
> to them, they couldn't replicate his results. He had made a programming
> error. He soon redid his work and claimed that the results were the same.
> Unfortunately for him the Social Security staffpersons found the opposite
> of what Feldstein claimed to be true. As I understand it, Rogoff and
> Reinhart have done the same thing, but are backtracking from their claim,
> saying they never said what is attributed to them.
>
> In Paul Krugman's recent NYT column, he doesn't even have the generosity
> to mention the graduate student's name. What a prick.
>
> Of course, nothing will come of this. Austerity will continue. Just as
> capital will resist raising the minimum wage, despite the truth that
> raising it will boost both incomes and employment. And just as those with
> power will continue to insist, with the support of Obama, that the social
> security system is near insolvency despite the falsity of this claim.
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-- 
Michael Perelman
Economics Department
California State University
Chico, CA
95929

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