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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
but i'm not an economist, so maybe we should see what the PhD advises us mortals do ;)[/quote]

Trust an economist to digest complicated arguments (in many fields) and to understand the use and limitations of statistical reasoning, but I wouldn't take their advice for much.

The people sitting next to me in planes invariably ask three questions:
1) What's going to happen to the price of oil (less so these days)?
2) What's going to happen to the price of my home?
3) What should I be investing in?

When I assure them that I have no particularly useful advice on these matters, they always look disappointed. Then they make a joke about what economists are taught. Then I awkwardly explain to them what a research economist does and that the top programs train students to be research economists. And that this usually involves really deep knowledge on a really narrow topic, a topic that is often so narrow as to be uninteresting to anyone else. And that the tools we use are more abstract.

Then we both go back to reading SkyMall. [/quote]

Actually, the biggest problem with economist is the silos everyone goes into.  I think the new breed of behavior economics may help open its perspective, but I think like most experts they get pigeon-holed and everything looks like a nail to their hammer.[/quote]

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