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The MIT Alchemist: How a 'Superstar' Proved Economics is Just Astrology for People Who Like Excel

Buck Valor
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Buck ValorPersiflating Non-Journalist
Thursday, May 22, 2025
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A hyper-realistic, cynical oil painting of a smug, young academic in a sweater vest standing before a massive chalkboard filled with complex, nonsensical formulas that are literally crumbling into dust. In the background, the iconic dome of MIT is depicted as a hollow, cracked shell. The lighting is cold and clinical, casting long, dramatic shadows that reveal the academic is actually holding a magician's wand instead of a chalk.

Ah, Economics. The only discipline where you can be spectacularly wrong about everything for forty consecutive years and still receive a Nobel Prize and a pension that would make a Roman Senator weep with envy. It is the 'dismal science,' though the 'science' part has always been a generous euphemism, akin to calling a horoscope a meteorological report. This week’s sacrificial lamb on the altar of academic vanity is Aidan Toner-Rodgers, a name that sounds like it was generated by a ChatGPT prompt for 'Future Secretary of the Treasury.' Toner-Rodgers was the 'superstar' student at MIT, the kind of intellectual thoroughbred the establishment loves to parade around before they realize the horse is actually three raccoons in a collegiate trench coat.

Toner-Rodgers wasn’t just a student; he was a phenomenon. At MIT, he was producing the kind of work that made the geriatric faculty drool into their morning espresso. His piece de resistance? A paper purportedly proving that Generative AI was skyrocketing productivity at a legal services firm. It was the ultimate neoliberal fever dream: a world where the pesky, expensive human element could be optimized into oblivion by a chatbot. The elite were thrilled. The Left could use it to argue for 'evidence-based' technological displacement, and the Right could use it to justify firing everyone with a pulse. It was the perfect cocktail of confirmation bias and high-level math, served in a crystal glass of institutional prestige.

But then, the inevitable happened. The curtain was pulled back, and instead of a wizard, we found a series of 'inconsistencies.' In the world of real people, we call this 'being wrong,' but in the hallowed, ivy-choked halls of Cambridge, Massachusetts, we call it a 'methodological complication.' Questions began to swirl around his data. The meteoric rise hit a brick wall of reality, and the paper—once the shining beacon of the AI revolution—started to look like a collection of wishful thinking dressed up in regression analysis. The superstar’s work was suddenly under a microscope, and the lens was not kind.

This isn't merely a story about one student’s failure; it is a biopsy of a rotting system. Academia has become a high-stakes diploma mill for the children of the elite, where 'publish or perish' has been replaced by 'fabricate or fade.' We live in a world desperate for certainty, and we have tasked economists with providing it. They are our modern-day priests, interpreting the chicken entrails of market fluctuations and GDP growth to tell us if the gods of Capital are angry. When a 'superstar' like Toner-Rodgers falls, it exposes the fact that the entire cathedral is built on sand. Peer review, once the gold standard of truth, has become a circle-jerk of ego and mutual reinforcement. Nobody actually checks the data because everyone is too busy checking their own H-index.

The tragedy here is not that a young man made a mistake or perhaps took a shortcut; the tragedy is that we were so willing to believe him because he had the right pedigree. If a community college student in Idaho had found these results, they would have been laughed out of the room. But because the letterhead said MIT, the world bowed down. We are obsessed with the 'superstar' narrative because it suggests that some people are fundamentally smarter than the rest of us, capable of seeing the hidden gears of the universe. In reality, they are just better at navigating the social hierarchies of prestige. They provide the 'data' that the ruling class needs to continue its parasitic existence, and in return, they are given tenure and a sense of smug superiority.

Look at the motives. The world is terrified of AI, not because it will kill us, but because it will make us redundant. Toner-Rodgers’ paper was a sedative for that terror. It promised that AI would make us 'better,' more 'productive.' It was a lie we wanted to hear. Now that the lie is crumbling, we are left with the same grim reality: a chaotic world governed by greed and incompetence, where the experts are just as clueless as the rest of us, only with better vocabularies. The Right will ignore this because it disrupts their narrative of technological salvation; the Left will ignore it because it calls into question the sanctity of the institutions they worship. And Buck Valor will sit here, bored and entirely unsurprised, watching the next 'superstar' be manufactured in a basement in Cambridge. The machine must keep grinding, after all. Truth is a luxury the dismal science simply cannot afford.

This story is an interpreted work of social commentary based on real events. Source: The Economist

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