Thoughts On Economics

"... formal econometric work, where elaborate technique is used to apply theory to data or isolate the direction of causal relationship...

An orthodox response to the Cambridge Capital Controversy (CCC) is to assert that mainstream price theory is centered around General Equilib...

I was on travel last week. I find intriguing the application of solar, wind , geothermal, hydroelectric, and tide power generation on an ind...

Sraffa started a controversy on the interpretation of Ricardo's theory of value and distribution. Or perhaps Hollander did in his reacti...

This post illustrates a phenomenon that is a possibility in pairwise voting. Consider a constituency of 30 voters deciding among six candida...

Gualra has a blog, titled "Controversias Del Capital" . It seems like the kind of thing I would read if I were able to read spanis...

Figure 1 is a screen snapshot of normalized data from Google trends. Terms such as "Austrian Business Cycle" and "Austrian Bu...

Where do I recall the quoted phrase in the title from? It's not in Skidelsky: "Keynes finally saw Roosevelt for an hour at 5:16 p.m...

I recently read Peter Dorman's "Waiting for an Echo: The Revolution in General Equilibrium Theory and The Paralysis in Introductory...

"[O]ne should emphasize the distinction between two types of measurement. First, there was the one in which the statisticians were main...

"Compared with physics, it seems fair to say that the quantitative success of the economic sciences has been disappointing. Rockets fly...

Peter Boettke goes on and on and on in this post . I'll confine my comments to Boettke's first numbered "point", even tho...

In various blogs, John Holbo , Julian Sanchez , and Matthew Yglesias comment on Hayek. In commenting on Jesse Larner's views on Hayek...

I am amused by the thread created by this polemic, titled "What I thought a PhD was about": When I first envitioned the dream of ...

Mark Blaug reviewed the 1987 edition of the New Palgrave , apparently for some right-wing outfit. I find much in his review to disagree with...

In an email exchange with a graduate student, Edward Prescott proves himself to be an impolite, ignorant, arrogant fool. Prescott's cor...

I sometimes wonder if Ken MacLeod writes science fiction novels just for me. What other novelist has characters refer to Leontief matrices?...

Introduction This post gives a quick overview of my impressions of the contributions to economics of Nicholas Kaldor. In writing this post, ...

"Paradoxically, the main result obtained by the new classical economists is the demonstration - against their wishes and expectations -...

Here are two books one can read on-line and that I may read: Protecting Individual Privacy in the Struggle Against Terrorists: A Framework f...