Skip Navigation
Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

More on think tanks

By Megan McArdle
May 13 2008, 11:13 AM ET Comment

I like think tanks. Some of my best friends work for think tanks. I think they do a lot of good work. But the political policy ones do their best work when they are trying to decide policy within a movement; that's when you start seeing real innovative work. They are also very good at providing critiques of academic work in their areas of interest.

When they turn to fighting outsiders over, say, the minimum wage, the quality of their work sharply degrades. They have limited ability to change their policy position, because the donors will revolt; if they can't get an answer the donors will like, they don't ask the questions. They also only hire scholars who agree with them. That already biases their work, but then you have to contend with the groupthink problem: when everyone at the office agrees with you that your opponents are idiots, and you socialize mostly with other people in the movement, your thinking gets a tad lazy.

So if the only support for your positions comes from movement think tanks (plus maybe a few marginal academics), your position is probably extremely weak. Indeed, if someone from the other side were pulling the same trick, you would be the first to notice this. Independent studies commissioned by think tanks are especially suspect. You can't check their calculations, and survey design is easily manipulable to get the answer you want.

That's why I rarely grab, say, a Heritage or CEI study on the minimum wage and offer that as evidence for my claims. As it happens, on this issue I broadly agree with them. But even if I were willing to vouch for their numbers, it's pointless, because no one who disagrees with me would accept them. So I go to the BLS, the Census Bureau, the CBO, the JEC, the GAO, or an academic study instead. In cases where I can check some of their numbers, I'll use it as a secondary source. But it's never my primary source for a policy position.

Presented by

More at The Atlantic

A Western Diet High in Sugars and Fat Could Contribute to ADHD A Sugary, Fatty Western Diet Could Be Contributing to ADHD
Who Are the Real 'Freeloaders': The Poor or the Old? Who Are America's Real 'Freeloaders'?
Manufacturing Is Special: Why America Needs Its Makers Manufacturing Is Special
Anne Rice, 'Secret World of Arrietty': The Week Ahead in Pop Culture The Week in Pop Culture
Can't We Learn to Stop Worrying and Love Mass Refinancing? Can't We Learn to Stop Worrying and Love Mass Refinancing?

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.
blog comments powered by Disqus
Special Report
Election 2012 Reuters Election 2012
The destination for full politics coverage, from the primaries to the White House. Read more ›
View All Correspondents

The Biggest Story in Photos

Athens in Flames

Feb 13, 2012

Subscribe Now

SAVE 59%! 10 issues JUST $2.45 PER COPY

Facebook

Newsletters

Sign up to receive our free newsletters

(sample)

(sample)

(sample)

(sample)

Megan McArdle
from the Magazine

Why Companies Fail

GM’s stock price has sunk by a third since its IPO. Why is corporate turnaround so difficult…

The Graduates

Busted banking careers, crashed consultants, and shrunken incomes: the author attends her 10-year…

Romney’s Business

The Republican contender touts his business experience—but does it really matter?