tag:blogger.com,1999:blog-26706564.post116996675731521455..comments2024-03-25T07:51:47.758-04:00Comments on Thoughts On Economics: Welcome To The PartyRobert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-26706564.post-1170108541066845472007-01-29T17:09:00.000-05:002007-01-29T17:09:00.000-05:00Thanks for the comment, Iain. I think economists h...Thanks for the comment, Iain. I think economists have a problem in how they should comment on their colleagues. So many that are dominant just push exploded and inane views. Should one ignore them, and get on with one's own work? But, if economists actually disagree, shouldn't one be committed to pluralism? If one is always going on about what's wrong with others' views and how the textbooks are just wrong on long-established principles, won't one be ignored? As a tactic, maybe one should welcome moves a millimeter in the right direction.<BR/><BR/>Krugman and Galbraith <A HREF="http://www.slate.com/id/3629/entry/23739/" REL="nofollow">exchanged views</A> in <I>Slate</I> some time ago.Robert Vienneauhttps://www.blogger.com/profile/14748118392842775431noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-1170065435748376132007-01-29T05:10:00.000-05:002007-01-29T05:10:00.000-05:00I was amazed when I read Krugman's article on Frie...I was amazed when I read Krugman's article on Friedman. He ignored Kaldor's destruction of Monetarism; the whole argument over the endogenous nature of the money supply; the basic fact that the Central Banks could *not* control the money supply (and so hiked up interest rates instead); no mention of Chile; or the fact that if Friedman claimed something, the facts were probably the opposition or became so when his ideas were applied (such as on equality, apparently free market capitalism is the most egalitarian system ever). And so on...<BR/><BR/>Not to mention his ignorance of what "libertarian" originally meant and what "anarchist" actually means...<BR/><BR/>I can only assume neo-classical economics rots the brain, or at the very least puts intellectual blinkers on you -- even for someone as talented as Krugman. But I do get the impression that economics, as a profession, tends to ignore non-mainstream positions -- particularly if they are right!<BR/><BR/>IainAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-1170045653136348342007-01-28T23:40:00.000-05:002007-01-28T23:40:00.000-05:00I've only been aware of James Galbraith's work for...I've only been aware of James Galbraith's work for about a decade. In that time, I always thought he took his father's work as a tradition in which to work, albeit with more math. Feel free to say more.<BR/><BR/>The University of Texas at Austin once had a tradition of institutionalist economics (Clarence Ayres, Robert Montgomery, Ruth Allen, Alton Wiley, and Edward Everett Hale). I don't know if this tradition survives, but I wonder if this has something to do with James be at UT.<BR/><BR/>I think I've read a book with pictures of James as a boy in a crowd of kids at the ambassador's residence in India.Robert Vienneauhttps://www.blogger.com/profile/14748118392842775431noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-1170015970526363812007-01-28T15:26:00.000-05:002007-01-28T15:26:00.000-05:00Is it just me, or is James K. Galbraith, as he get...Is it just me, or is James K. Galbraith, as he gets older, starting to sound more and more like John K. Galbraith?Anonymousnoreply@blogger.com