Thursday, October 24, 2024

Why Is Macro So Hard? (Here We Go Again) Another Economist Who Isn't an Economist At All

OpenAI has hired their first Chief Economist.

That person is Aaron Chatterji, a professor from the business school at Duke.

His CV is available on online. Here's some highlights:

  • He was a member of the National Economic Council in the Biden White House (that's the office that's mostly attorneys)
  • He was Chief Economist at the Department of Commerce (you'd think they might know better)
  • He was a member of the Council of Economic Advisors in the Obama White House (OK, that's good)
  • At Duke, he's listed as a Professor of Strategy in their business school. BTW: Duke has a Department of Economics (full of economists), but it's not in their business school.
  • He held a visiting position at Stanford where the title was Professor of Public Policy
  • He got a Ph.D. from Berkeley in "Business and Public Policy"
  • He got a  BA in economics from Cornell.
  • Of his 33 journal articles, the most popular venue (by far) is Strategic Management Journal.

What's my point in all this? I'm pointing out a weird conjunction of events: a general feeling that the economy is not doing well, along with a propensity to put people in charge of economic decisions who aren't economists. If everyone always felt the economy was doing OK, I don't think this would be a problem. As it is, it seems like a red flag to me: why is it so important to call people economists when they aren't?

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