Thoughts On Economics

Various nonacademic institutions have helped shaped the development of academic economics. Fred Lee, in his recent history, describes some a...

The Paolo Sylos Labini Associazione is named after a great Sraffian economist. They are collecting signatures for a Manifesto for freedom o...

"Yet when, having produced a destructive critique of the neoclassical production function, [Sylos Labini] asks, 'When will economis...

Milton Friedman defined the natural rate of unemployment, also known as the Non-Accelerating Inflation Rate of Unemployment (NAIRU), at leas...

1.0 Introduction Economics can change the world, and not necessarily for the better. Mainstream economists often do not describe actual capi...

... That we haven't tried . Ian Parker has an article, "The Poverty Lab", in this week's(May 17, 2010) issue of The New Yo...

1.0 Introduction Joan Robinson famously distinguished between economic models set in logical and historical time. According to Robinson, the...

A couple of weeks back, some silly anonymous commentators on Tyler Cowen's blog wrote : "Who gives two [esses] what Robert Vienneau...

A comprehensive history of physics would not be only about changing ideas and the social setting in which they evolved. It would include sto...

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...