Thoughts On Economics

Albert Einstein had an article in the inaugural issue of Monthly Review . I don't know if there is a story here. Did Paul Sweezy, the pu...

"'Coase's Theorem' says that once we determine who can legally do what, externalities will vanish as actors pay one another...

The New York Times a couple of weeks ago profiled George Soros, the billionaire financial speculator, philanthropist, and student of Karl P...

Over at Good Math, Bad Math , Mark Chu-Carroll has brought up the disagreement between frequentists and Bayesians. Here's a highly tech...

Apparently, Philip Mirowski is currently researching how economics can inform science and technology policy. Mirowski (2007) is a step in th...

1.0 Introduction This post presents an example of reswitching with fixed capital. This is Example 5 in Chapter 9 of J. E. Woods, The Product...

Jeff Madrick has a Huffington Post column titled, "The End of the Age of Milton Friedman" . Since this is short and popular, one ...

I stumbled upon the following photo accompanying an interview with Albert Tucker (Maurer 1985). The 3rd man from the left in the first row ...

I lean toward the view that Marx's account of the derivation of the returns to capital from the exploitation of labor is intended to be ...

1.0 Introduction John Stuart Mill wrote an essay on the methodology of economics or rather, in the language of his day, Political Economy. I...

Mike Beggs writes : "I've thought for quite a while that mainstream economics is supported by an exoskeleton of empiricism rather t...

I've previously pointed out some of Samuelson's acknowledgements of the Cambridge Capital Controversy. Some of Samuelson's co...

I don't think I have previously read Robert Nadeau. I know I haven't read this book . But I find his editorial in this month's ...

Although both are heterodox, I prefer one of the economics departments at Notre Dame to the George Mason economics department anyway.

1.0 Introduction (I will not be blogging for maybe a week after maybe tomorrow.) The dominant economic theories during the classical period ...

"Concerning the [Induced Value Theory], it should be noted that in principle reward structures can be employed so as to generate any ...

It's been years since I read these references: Frank Roosevelt (1975). "Cambridge Economics as Commodity Fetishism", Review of...

I cannot recall any literature that develops this point: "One interesting sidelight before we leave the subject of intertemporal pricin...

It took me a while to notice this tag : Pick up the nearest book (of at least 123 pages). Open the book to page 123. Find the fifth sentence...

Axel Leijonhufvud had at least this part right decades ago: "That a model with wage rigidity as its main distinguishing feature should ...