Thoughts On Economics

Some prominent economist bloggers have recently commented on Keynes. Brad DeLong excoriates John Gray for asserting Keynes' view contra...

1.0 Introduction A vulgar belief is that competitive factor prices reward factor owners for the physical contributions of their services to ...

Bernard Guerrien has joined with Emmanuelle Benicourt in updating Guerrien's prior objections . Deirdre McCloskey chaired an URPE-sponso...

Perhaps some would like to read more practical policy advice and less abstract arguments that I usually point to in my posts. Many organizat...

Stephen Marglin is a professor of economics at Harvard. As I understand it, he was just starting out when several promising Harvard professo...

I find that Frantz Fanon and Michal Kalecki have similar ideas on the middle classes in many underdeveloped countries. They think that these...

I'm not sure I've ever read any edition of Paul Samuelson's introductory textbook cover to cover. I know I haven't since I...

"The critique of Robinson and Sraffa is more than forty years old. Yet for psychological and political reasons, rather than for logical...

David Leonhardt , in the 2 January edition of the New York Times , describes behavioral economics as "a left-leaning academic movement ...

An assumption in neoclassical models of perfect competition is that all agents are price-takers. That is, they take prices on the market as ...

"7.5. The idea that the opening of foreign trade bears a close resemblance to technical progress, in that in both cases additional proc...

A reader asks: "This is an unrelated discussion, but I was hoping that maybe you (or someone else reading this forum) could help me wit...

What I'm reading: "The colonial world is a world cut in two. The dividing line, the frontiers are shown by barracks and police stat...

1.0 Introduction One theme of this blog is that the introductory textbook model of the labor market is incorrect . Two recent papers make th...

Last year I bought my 12-year-old niece a novel . My sister-in-law says that as far as books goes, my niece likes memoirs and history, like ...

The answer for 42-across in today's New York Times crossword puzzle is "Larry Summers". What do you think the clue should be?...

I have a series of posts on the distribution of income, the distribution of wealth, income mobility, and related matters. I don't know ...

Apparently, Andrew Trigg has written a book Marxian Reproduction Schema: Money and Aggregate Demand in a Capitalist Economy (Routledge, 200...

Aaron Swartz quotes a paper by Louis Pascal posing a thought experiment. I wonder if many find this argument emotionally unsatisfying. It d...

1.0 Introduction This post presents a model in which a capitalist economy smoothly reproduces itself. The purpose of such a model is not to ...