ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax


IIRC (and I may not), the belief was that the coming of feminism had put us in a situation where the substitution effect exceeded the income effect.
The bigger point, of course, is that we shouldn't have been in the "number of jobs" game at all. We didn't think that the number of jobs was the important effect; we thought it was the quality of jobs. But the view of our betters was that comparative advantage was too hard to explain, that Ross Perot was out there saying Mexicans will take all your jobs, and that the good guys needed a counter.
Even if what we were doing was trying to project the shadow "deformed rabbit" on the wall of the cave, since we couldn't strike the fetters off the prisoners and lead them outside into the bright sun of Ricardian trade theory.
Why would libertarian types be astonished to learn that official government numbers are made of such whimsical stuff?
We didn't think that the number of jobs was the important effect; we thought it was the quality of jobs. But the view of our betters was that comparative advantage was too hard to explain, that Ross Perot was out there saying Mexicans will take all your jobs, and that the good guys needed a counter.
Completely believable answer, certainly. Ah, the life of an economic advisor.