Comic #3888: empirical-economics
Description
Sure! Here’s a detailed description and transcription of the comic:
Panel 1:
- Text: "IN ORDER TO DETERMINE WHAT ECONOMIC INTERVENTIONS ARE BEST IN DEVELOPING COUNTRIES, WE MUST USE RANDOMIZED CONTROLLED TRIALS."
- Visual: A woman with long hair and glasses stands at a podium, speaking to an audience.
Panel 2:
- Text: "THESE TRIALS ARE BASED ON THE SUCCESSFUL METHODS USED TO EVALUATE MEDICAL DRUGS. THUS, FOR OUR STUDY, WE LOOKED AT TWO GROUPS."
- Visual: The same woman continues to speak.
Panel 3:
- Text: "ONE GROUP WAS GIVEN DIRECT CASH INJECTIONS. ANOTHER WAS GIVEN 'PLACEBO CASH,' WHICH WERE PIECES OF PAPER WITH HASTILY-DRAWN PICTURES OF GEORGE WASHINGTON ON THEM."
- Visual: The woman is holding a piece of paper that looks like a drawing of George Washington.
Panel 4:
- Text: "THIS LED TO MASSIVE CONTRIBUTIONS OF CLOTHING, FOOD, EDUCATIONAL RESOURCES, MEDICINE, AND NON-PLACEBO CASH TO THE PLACEBO GROUP."
- Visual: The woman gestures to a large pile of items, possibly indicating the contributions.
Panel 5:
- Text: "AS A RESULT, THEY EXPERIENCED A SIGNIFICANT DECREASE IN CHILD MORTALITY AND AN INCREASE IN HOUSEHOLD WEALTH, FAR OUTPACING THE CASH-INJECTION GROUP DURING THE FIVE YEAR PERIOD OF STUDY."
- Visual: The woman continues her presentation, emphasizing the results.
Panel 6:
- Text: "THE POLICY IMPLICATION IS CLEAR:"
- Visual: A close-up of the woman looking determined.
Panel 7:
- Text: "GIVEN THE HIGH COST OF BEING EMPIRICALLY WRONG, WE RECOMMEND A RETURN TO BEING THEORETICALLY WRONG."
- Visual: The woman conveys a sense of confidence in her findings.
Panel 8:
- Text: "WILL THAT IMPROVE LIFE FOR THE POOR?"
- Visual: The woman poses this question, looking out to the audience.
Panel 9:
- Text: "OUR MODEL SAYS YES!"
- Visual: The text is bold. There are silhouettes of audience members listening intently.
This comic humorously explores the complexities and absurdities of economic interventions in developing countries through a satirical lens.