11. Agreement and disagreement among economists Suppose that Sean, an economist from a university in Arizona, and Yvette, an economist from a nonprot organization on the West Coast, are arguing over government bailouts. The following dialogue shows an excerpt from their debate: Yvette: Thanks to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. Sean: Indeed, it's gotten crazy! A government bailout of severely distressed nancial firms is unnecessary because free markets will properly price assets. Yvette: I don't know about that. Without a bailout of severely distressed nancial firms, the economy will experience a deep recession. The disagreement between these economists is most likely due to differences in scientific judgments v Despite their differences, with which proposition are two economists chosen at random most likely to agree? Tariffs and import quotas generally reduce economic welfare. \\ Minimum wage laws do more to harm low-skilled workers than help them. \\ Lawyers make up an excessive percentage of elected ofcials. differences between perception versus reality S differences in scientific judgments differences in values ficials