Dani Rodrik explains why good economists think in models, how models differ from theory, and why there is no one true model of the business cycle.

To put this chart in a somewhat longer perspective (2/2)

US manufacturing employment share has now increased for three months in a row (1/2)

This seems to me to get it exactly right and obviously applies beyond mathematics: solving a problem is not the same as developing conceptual understanding and insight, and might even come at the expense of it.

Our everyday language and habits and ideas of what's normal incorporate all kinds of political ideas that reinforce the existing structures of domination. That's what ideology is. An important part of the work of politically-engaged intellectuals is to help us become conscious of this.

Oh no. Very saddened to hear this. He was a great guy and a wonderful economist.

On the other hand, if your worry is sectoral in nature (say, the effect of imports on your auto industry) you should respond by industrial policies encouraging productive investments. Again, tariffs are a blunt tool. +

Yes. This point is not sufficiently recognized in the global imbalances debate. If you think your CA deficit is excessive and caused by factors outside your borders, you should tax or otherwise discourage capital inflows. Tariffs are a very blunt tool at best. +

Three things made the US a rich and powerful nation: the rule of law, its science & innovation system, and openness to foreign talent. Remarkable how Trump has taken a sledgehammer to all three. No enemy of this country could do more.