Adam Ozimek on the Power of Econometrics and Data

Adam Ozimek talks with host Russ Roberts about why economists change their minds or don't. Ozimek argues that economists make erratic but steady progress using econometrics and other forms of evidence to understand the impact of public policies such as the minimum wage or government stimulus. Roberts pushes back and discusses the role of ideology, the complexity of where our views come from and the potential for confirmation bias.