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Why is Harvard Economics so Popular?

Brad DeLong doesn't think much of the Harvard economics department as a place for undergraduates:

My years as a junior faculty member and as head tutor of economics make me think that there is an enormous disproportion between resource inputs and educational outputs.

David Warsh says that other Harvard academics don't think much of it, either:

The economics department, eager to be known as the world's foremost in order to attract the brightest students, remains in bad odor within the university.

And yet, says Jeffrey Miron:

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