Thoughts On Economics

Just something to add to my references if I ever manage to publish my critique of Austrian Business Cycle theory: "The Achilles heel i...

On 15 April, I went to laugh at a local "Tea Party" rally. Figure 1: Stupid and Proud of It Figure 2: I'd Rather Discuss Marxi...

I look at the speakers ( here and here )at the Institute for New Economic Thinking conference that just concluded at King's College, Ca...

Martin Wolf, of the Financial Times asks whether Austrian economists have a superior understanding of financial crises. (Having him ask th...

"Nothing is more likely than that the verbal expression of the result of a mathematical proof is calculated to delude us with a myth....

This is combinatorics, not economics. I suppose this sort of math is useful for political science in calculating power indices. Consider a s...

Consider Andrew W. Lo and Mark T. Mueller's draft paper "WARNING: Physics Envy May Be Hazardous To Your Wealth!" , to appear i...

At NEP-DGE Blog, I commented on some post about some dynamic general equilibrium model explaining the distributions of wealth and income: ...

James Galbraith speaks up against "one of the great misinformation campaigns of all time": "To put things crudely, there are ...

Empirical evidence went against neoclassical economics in the following three cases: Empirical studies and surveys of businessmen found tha...

In comments , an anonymous poster asks: Is the Kaldorian model on industrial and General productivity in an economy applicable in understand...

I find these comments to be anti-intellectual: John Quiggin rejects the Austrian school of economics on the ground that partisans of that s...

Alex M. Thomas has begun a series of posts about Piero Sraffa's work in economics.

1.0 Introduction I think utility theory has a canonical textbook presentation. Many variations seem to exist. In some, the additional struct...

Some mainstream economists claim that unemployment would be less if labor markets were more flexible and less rigid. In a 1998 paper arguing...

I never even heard of the Bank for International Settlements (BIS) before a couple years ago. I am vaguely aware of the Basel accords, whic...

Colin Rogers has a review essay of Geoff Tily's Keynes's General Theory, the Rate of Interest and 'Keynesian' Economics: Key...

Frederick Lee has written a book: A History of Heterodox Economics: Challenging the Mainstream in the Twentieth Century . I don't know i...

Alex Haley used to hang out at the Savoy, a local restraurant in Rome, NY. While writing Roots , he told the owner, "I am writing a bo...

Maybe Phil Mirowski and his more interesting colleagues will be able to pursue their vocation .