@jamespstratton and I put out a working paper a few days ago on exactly this question! We propose a way to answer it using a simple causal analogue of the R² ("Causal R²").🧵(1/12). Paper: drive.google.com/file/d/1FWN…
A lovely post. In addition the the causal inference revolution, we now need a "variance explained" revolution which focuses on understanding what drives the variation in the world we see around us