Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
287 | Jean-Paul Faguet on Institutions and the Legacy of History
Jean-Paul Faguet
So our instrument is highly correlated with the presence or absence of encomienda, but it should be uncorrelated with the outcome variable that we're trying to ascribe to the encomienda, which is modern development outcomes like health, education, GDP per capita, etc., And so we've tried different instruments.
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