Thoughts On Economics

How might a concern with being up on current fashions in mainstream economics models help perpetuate the current sociology of economics? ...

A steady state is characterized by the economy having a constant rate of growth. I here select a number of expositions of analyses of stead...

Paul Krugman has explained on several occasions that he was inspired to become an economist by Isaac Asimov's Foundation triology...

"In practice, of course, the purists were unable to deliver, and the new tricks involve the 'modern macroeconomists' in ad hoc...

So much nonsense packed into so few words: "But the lefty Sraffian model has only labour and time as inputs." -- Nick Rowe I ...

Paul Krugman has been writing about robots lately. He explicitly cites J. R. Hicks' incoherent and mistaken 1932 book, The Theory of...

"There are three good reasons to think that reduction will fail on any likely development of social sciences: (1) multiple realization...

My major point in this post is to draw attention to the existence of Kapeller and Pühringer (2010). Steve Keen's book, Debunking Econ...

" Larry , the Barefoot Bum " has been refuting propertarianism 1 . Crudely stated, his thesis is that if you believe taxation...

Should one try to engage with those putting forth positions refuted decades ago? Maybe one's time would be better spent on looking at ar...

"Both classical and marginalist economics provided accounts of the long-period (uniform rate of profit) theory of value and distributio...

A blog for a close and critical reading of Mas-Colell, Whinston, and Green. MWG is the most dominant introductory graduate microeconomics...

An Unsurveyable Rule For Generating A Real Number In Binary Format Noah Smith offers a definition: "Mathematics is the manipulatio...

More than two decades ago, I took a course in intermediate microeconomics. The textbook was R. Robert Russell and Maurice Wilkinson's M...

Figure 1: Less Plentiful Supply of Capital Lowers the Interest Rate 1.0 Introduction I claim that capital reversing can be a source of in...

...and other outdated blatherskite: "An increase in desired saving will only affect the rate of interest slowly, over time, as the grea...

" Civil Society - an association of members as self-subsistent individuals in a universality which, because of their self-subsistence,...

Figure 1: Bottom Decile Irrelevant To Policy Figure 2: Top Decile Much More Influential on Policy Than Median These striking figures are...

In his book 1 , Piero Sraffa presented the elements of an economic theory that takes into consideration the empirical fact stated in my pos...

I have occasionally mentioned some of the mathematics that many find useful in reading Sraffa 1 . Here I want to raise a question. Consid...