Thoughts On Economics

"...the functioning of even the best institutions will always depend, to a considerable degree, on its personnel... Democracy provides ...

Books on my pile include: Katherine Tait, My Father Bertrand Russell (Harcourt, Brace, Jovanovich, 1975). Chris Mooney, The Republican Br...

Figure 1: A Chaotic Attractor in Kaldor's Model of the Business Cycle I might as well post another interim result from my analyses of...

Johnathan Schlefer writes , "There is no invisible hand". He bases his claim on empirical observation and the Sonnenschein-Mantel-...

I think many people, without too much thought, naturally intuit: The system under which they live works fairly well. Somehow, they are be...

Figure 1: A Figure Illustrating Data From A Table In Palley (2012) I have been reading Thomas Palley's new book, From Financial Crisis ...

Figure 1: A Fractal in the Phase Diagram for One Specification of Parameters in the Kaldor Model 1 1.0 Introduction I thought I would tr...

Ursula Le Guin sets her Earthsea trilogy on an imaginary world containing many islands 1 . Nine mages run a world-famous school for wizards ...

Matías Vernengo provides an introduction to the capital controversy. He concludes, like others, including myself, that the neoclassical the...

"It is possible to defend our economic system on the ground that, patched up with Keynesian correctives, it is, as he put it, the ...

This post is somewhat on current events, and about topics I'm even less expert in than usual. I suggest that a certain historical analog...

Figure 1: An Enlargement Of A Piece Of The Mandelbrot Set A number of years ago, I loaned Heinz-Otto Peitgen and Peter H. Richter's 19...

Suppose you can get people to refer to some theory or principle that you advocate as "Motherhood and Apple Pie". A rather stupid w...

Mattheus von Guttenberg exemplifies what I think are defects in many fanboys of Austrian school economics. Among these defects is an uncr...

The Non-Equilibrium Social Science community and newsletter. Mike Beggs, in Jacobin Magazine , on Occupy Economics . Robert Johnson, in ...

Figure 1: Nell's Diagram Over at Naked Keynesian , Matías Vernengo explains some aspects of how he teaches the surplus approach. Vern...

"Over the last three decades, economists played an important role in creating the conditions of the 2008 crisis (and dozens of smaller ...

Figure 1: Statue on top of Obelisk During the last week of 2011, I saw an exhibition of Sanja Ivekovíc 's work at the Museum of Moder...

Today's events consist of: 12:00 - 3:00 - People's Economic Conference Roosevelt University (430 S. Michigan, 3rd Floor) 4:30 - M...

1.0 Introduction Capital-reversing can arise in a couple of ways without reswitching. This post steps through a case in which positive pri...