Thoughts On Economics

Tyler Cowen doesn't seem to know that this discussion of the Marginal Product of Capital is nonsense . Tyler Cowen also doesn't kn...

This looks interesting: "One of the first studies of its kind after the US reformed a controversial export subsidy program called “Ste...

Some time ago, I submitted a paper, " Some Fallacies of Austrian Economics " to the Quarterly Journal of Austrian Economics (Fixe...

Economics is about social provisioning, not merely choices and scarcity. Both scarcity and wants are socially defined and created. Economic ...

"A case has been made for the observation that the modern contributions to economic understanding have not come from marginal economic ...

This looks to be an interesting paper: "This paper investigates the relationship between capital account openness and the share of labo...

And not for the first time. Apparently Sraffa, an Italian living in England, probably only wrote the first sentence of the following letter....

I don't understand this: "... and Sraffa's obscure, at least to me, Production of Commodities by Means of Commodities ." -...

I wonder if I might be missing something .

I recently found out that one can download Saari (1995). (Hat tip to Ars Mathematica .) Before going into advanced mathematics, Saari notes ...

I had this as a draft post before the discussion on this over at Max's place. "Wittgenstein and P. Sraffa, a lecturer in economics...

Power can be formally modeled in a framework of incomplete contracts, asymmetric information, strategic interaction, and principals and agen...

Many economics blogs were abuzz last week with comments on this discussion of Chris Hayes' Nation article on heterodox economics. I ha...

I think he offers definitions in other works, too. "Let us attempt to identify the key characteristics of neoclassical economics; the t...

David Warsh has a piece on János Kornai's challenges in pursuing a career in economics in communist Hungary. (I don't know if David...

Some have assured me that mainstream economics is valid because this is not valid neoclassical economics (and mainstream economists know th...

Ezra Klein has a series of posts on the topic. Some of the commentators seem to me to know what they are talking about. The discussion ge...

After many analyses, some mainstream economists acknowledge that they may not have a coherent understanding for what it means for a person t...

"Demand theorists know there are few Giffen goods. They know why there are Giffen goods. They can successfully predict that certain goo...

Like Dean Baker , I have said before that important issues in "free" trade agreements are matters of governance, not trade. James...