Mastodon
List

In graduate school in New York, around 2005, an older lady approached me with a question. She asked me whether I thought I was good at maths. I said yes, I thought I was OK but there were much smarter people out there to talk to. The lady answered: Before I go find them, can I ask you some questions? I'm stuck on a few technik-y bits.

Jan Tanner Poskas didn't take no for an answer. She said she had no head for mathematics, statistics, or econometrics, but her questions, when I brought her through some of the derivations of the BLUE for example, showed that she really did get the point of the estimation process, it was the steps in between that got her muddled.

I asked Jan questions, and got her to work backwards from her correct intuitive endpoint to the start, and she got it right away. Jan taught me you can teach people by talking at them, or by asking them questions and bouncing off their answers. I use that trick every time I teach.

Jan saw the end of things much too quickly it seemed. Jan taught me that intuition can be as important in economics as deduction from axioms and induction from data.

Keynes made the point technicians miss: to be a good economist you need to have the maths, yes, and you need to have the data crunching skills, yes, but you also need to have some 'sense' of what is going on, and what went before, if you are going to try to understand the economy. History is very useful, but so is just staring and using your common sense. One of the best examples of Keynes' views are in his his eulogy of Alfred Marshall (.pdf):

But the amalgam of logic and intuition and the wide knowledge of facts, most of which are not precise, which is required for economic interpretation in its highest form, is, quite truly, overwhelmingly difficult for those whose gift mainly consists in the power to imagine and pursue to their furthest points the implications and prior conditions of comparatively simple facts which are known with a high degree of precision.

Jan had the power to imagine, and I loved her for it. She got me to see beyond deriving stuff for the sake of deriving.

By the way: It wasn't that Jan had no head for figures. A prominent financier for decades, Jan's company made lots of money. But she wasn't interested in that, so after meeting her husband, the eminent painter Peter Poskas, Jan retired from finance and began thinking about ethics. She taught ethics for many years and began her PhD in economics at the New School in the 2000s. She kept asking questions.

"What's the point of economics Stephen? Why should we study this stuff? What are the maths for? What's the right thing to do?"

Jan's questions were always the same: deep, to the point, and tinged with a strong social conscience.

When I was organising my wedding in 2006, I invited Jan. She couldn't come, but she asked could she make the flowers for the wedding and have them sent up? I said of course. The flowers were beautiful, and made the wedding really special. For a present, she and Peter took my wife and I to the Yale Club for lunch, where we learned the true meaning of the word 'pretension', and got a good story out of the experience to boot. In a thank you note, Jan gave me a present that basically changed my life. I'll always be grateful to her for it.

We continued to correspond through her illness. She sent me a Christmas postcard of her, Peter, and her grandchildren this year. I had been meaning to respond, but it slipped my mind. Now I won't get the chance.

Rest in Peace, Jan.

  Posts

1 2 3 154
December 10th, 2019

Using Social Media to Boost your profile

My talk for the social media summit is here. 

November 5th, 2019

Innospace UL talk

Thanks for the invitation to speak, the whole talk is here. 

October 9th, 2019

Understanding the macroeconomy podcast

I really enjoyed my interview with Dr Niall Farrell of the Irish Economics Podcast. You can listen to it here:

September 15th, 2018

Identifying Mechanisms Underlying Peer Effects on Multiplex Networks

New paper with Hang Xiong and Diane Payne just published in JASS: Abstract: We separately identify two mechanisms underlying peer […]

March 24th, 2018

Capital inflows, crisis and recovery in small open economies

Our latest paper, and my first with my Melbourne School of Government affiliation (plus my UL one, of course) is […]

March 7th, 2018

Southern Charm

What's it like working at Australia's number one university, ranked 23rd in the world for social sciences? It's pretty cool, […]

February 7th, 2018

Freedom interview

I did an interview for an app I love using called Freedom. Basically I pay them to block off the […]

December 10th, 2017

Marian Finucane Interview

I did a fairly long interview about the experience of moving to Australia with my family. You can listen here.

November 17th, 2017

Increasing wages for macroeconomic stability

My first piece for the conversation is here. I'm arguing the economy would benefit from wage increases, paid for from […]

November 14th, 2017

Health Workforce Planning Models, Tools and Processes: An Evidence Review

Below is my recorded talk, here are my slides, and the handout for the 4th Global Forum on Human Resources for […]

October 5th, 2017

Aalborg Keynote

My talk from the fourth Nordic Post Keynesian conference is up. The full list of keynotes is here.

October 1st, 2017

AIST Debt and Demography talk

(Apparently Limerick is in the UK now!)

September 7th, 2017

My AIST Keynote: Europe Exposed

In which a camera man faints halfway through--he's OK though, I checked afterwards!

July 22nd, 2017

MacGill Summer School Speech

My speech at the MacGill Summer School is here. Thanks to Joe Muholland for inviting me to speak.

May 25th, 2017

Business Post Articles

All my Sunday Business Post articles (back to 2014/5, when I joined the paper) are available here, behind a paywall, and […]

@barrd on Mastodon