In macro, it’s important for people like me to always search for the truth, and reach conclusions about economic models in a way that is independent of the consensus model. In that way, I play my “worker ant” role of nudging the profession towards a greater truth. But at the same time we need to recognize that there is nothing special about our view. If we are made dictator, we should implement the consensus view of optimal policy, not our own. People have trouble with this, as it implies two levels of belief about what is true. The view from inside our mind, and the view from 20,000 miles out in space, where I see there is no objective reason to favor my view over Krugman’s.
Scott Sumner, ‘Why Bryan Caplan Almost Always Wins His Bets’, EconLog, May 26, 2016