Thoughts On Economics

Referee Report on "Some Capital-Theoretic Fallacies of Austrian Economics" January 2008 Summary: This paper challenges some of th...

The March 2008 issue of Harper's Magazine reports that a new edition of Wittgenstein's letters in Cambridge is being published by ...

I find this amusing. I suppose I should be grateful that somebody with a more popular blog than mine cites me.

I bought the Winter 2008 edition of Dissent just to read Jesse Larner's article, "Who's Afraid of Friedrich Hayek?". This...

I should be able to find older citations and by non-Sraffians for this thesis. Nikolai Bukharin would be good to reread, or at least rebrows...

Thomas Palley has been reading Rodrik's book, One Economics, Many Recipes . Pallay's reaction is better expressed and better though...

Luigi Pasinetti, in his new book, Keynes and the Cambridge Keynesians: A "Revolution in Economics" to be Accomplished , summarizes...

There was a certain political tendency in the United States around 1900. Historians call it the Progressive movement. I think it interesting...

King’s College Cambridge 14 March 1938 Dear Wittgenstein, Before trying to discuss, probably in a confused way, I want to give a clear answe...

1.0 Introduction This post outlines a simple economic model. This model formalizes the claim that capitalists obtain their income from the e...

As a footnote in a discussion of anomalies in a paradigm, in the sense of Thomas Kuhn, Pasinetti writes: "It seems to me significant th...

There has been quite a bit of talk about Hyman Minsky recently, and for good reason. In particular, this week's New Yorker leads off wi...

The post title could refer to a third alternative . It has been years since I read Dutt and Amadeo's book. Their title is taken from a K...

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...