I think many economists & policymakers underestimate the impact 6.5 million destabilized, homeless households could have on the spread of #COVID & the entire economy. The impact on those HH's, many of whom are Black & Brown, alone could be devastating. More must be done urgently.
Lived experience influences how I interpret data. B4 Internet & AirBnB, found a summer sublet in NYC thru Village Voice. Paid most rent up front, but landlord didn't pay our total rent. Was profoundly destabilizing & huge waste of resources to be abruptly evicted & made homeless.
Significant & terrifying event 4 me, single & barely out of undergrad. Can't imagine suddenly becoming homeless w/ children or elderly parents, while looking 4 a job & child or elder care during an ongoing pandemic. This will ripple thru entire economy. Urgent action needed now.
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Dear Fellow Macroeconomist @haralduhlig,
My friend Bernice's dad & my friend & classmate Angela's uncle was brutally murdered on April 4,1968 at 6:01pm at the Lorraine Motel. Bernice & Angela were 5 & 4 years old. He was a protester. His name was Martin Luther King, Jr. 1/N
@haralduhlig That day, my uncle’s classmate, Christine King Ferris, lost her brother. And my uncle, Samuel DuBois Cook, lost a best friend, @MorehouseCollege classmate, and fellow intellectual. The Cooks and Kings have been friends and civil rights defenders for 3 generations. 2/N
That day, my cousin, Floyd McKissick, Sr., lost a friend, fellow freedom fighter, and @MorehouseCollege classmate. They were fellow protesters at the March on Washington for Jobs and Freedom on August 28, 1963. 3/N
I am a macroeconomist who uses lynching in economic analysis & was a student of George Akerlof, Barry Eichengreen, David Romer & Paul Romer.
When I taught at Harvard, I taught 2 fundamental equations for economic analysis:
Y = C + I + G + (X-M) (1) and
Y = F(K, L, A) (2). 1/N
I use “human capital” to explain models that got macro to the endogenous-growth equation, Eq. (2). I also teach how slaveowners & Confederates tried to extract "disembodied human capital" from enslaved persons by giving them the right to patent prior to emancipation. 2/N
As @trevondlogan knows, I spent 10 years trying to get my paper on lynching & economic activity published in econ journals (thx JEG!). Spent most time educating referees/fellow economists on US history. Main, persistent questions/comments:
Agree. Economists don't consult (or admit to consulting) other fields enough. Some subfields are traditionally open to other fields, eg, econ history, development & pol econ.
This piece has a few blind spots, too.
1) Why just call out lack of gender diversity in econ? 1/n
"...Their discipline needs to be disrupted by an injection of new ideas, methods, and assumptions about human behavior. Unfortunately, there are powerful obstacles to this disruption: elite control and lack of gender diversity."
Economists' lived experiences r key to ideas. 2/n
Agree w/ needed disruption. Gender, racial & other types of diversity would help identify early warning signs in financial crises (see Janet Yellen) & to understand ec behavior broadly.
2) Not all economists are forecasters. Those who are possess varying degrees of humility. 3/n
@AEASPmsu@itsafronomics@AEACSMGEP Black representation in economics has declined since 1995, going from 6.4% of all economics degrees to
to 5.3% in 2017. (2018 @AEACSMGEP Report) 3/N
Focus of my research & testimony: macro implications of suboptimal allocation of talent when women & URM aren't included at each stage of innovative process -- STEM ed & training, practice of invention (patent teams), & commercialization of invention. #LostEinsteinsAndKatherines
In addition to my research with Chaleampong Kongcharoen and Yanyan Yang, my testimony cited related work by Hunt, Garant, Herman, and Munroe; Hsieh, Hurst, Jones, and Klenow; and Bell, Chetty, Jaravel, Petrova, & @johnvanreenen. #LostEinsteinsAndKatherines
For #PiDay + #WomensHistoryMonth, I honor an eminent, glass-ceiling-breaking mathematician, Dr. Loretta Marion Murray Braxton. In the 1950’s, her 1st math prof in college in VA told her that she was in the wrong classes, b/c "only boys took higher-level math classes."1/14
Undeterred, Loretta Braxton won an NSF to do an MS in math in a top program at the University of Illinois, obtained a doctorate, and taught the 1st African American who formed a billion-dollar company, Reginald Lewis. #PiDay#Fearless 2/N
As a math teacher, professor, and 15 years as chair of the math department at @VSUTrojans, Loretta Braxton mentored several generations of math students, many of whom became teachers + college or university professors themselves. #BlackAndSTEM 3/14