Ekaterina Zhuravskaya: “Expectations from the sanctions were clearly too high”
Ekaterina Zhuravskaya
Ekaterina Zhuravskaya, professor at the Paris School of Economics and winner of the George Gamow Prize RASA-USA 2024, told T-invariant about how modern economic science works, how to evaluate the results of sanctions, and what research into Goebbels’ propaganda can tell us about the current military mobilization of Russian society.
T-invariant: Economic science is still not always perceived by hard sciences as a proper science, and is seen as a set of opinions or models. How could we argue with such an opinion?
Ekaterina Zhuravskaya: Over the last 25 years, which is roughly equal to my life as a researcher so far, economic science has revolutionized itself. The field largely moved away from pure theoretical models, opinions, and descriptive studies, as you put it in your question, toward models that have predictive power and testable implications necessarily coupled with rigorous testing of those predictions.