Thoughts On Economics

I think the following are fairly typical aspects of a large corporation: Operation of more than one plant. Production of more than one p...

Figure 1: A Market Mediated By Quantity 1.0 Introduction I have been examining John D. Sterman's textbook, Business Dynamics . Ste...

"[The] validity [of the Cambridge Criticism of neoclassical theory] is unquestionable, but its importance is an empirical or an econom...

Noah Smith complains about the supposed overuse of the label. Alex Marsh comments . Matias Vernengo responds . Lars Syll responds , inc...

These have been written by authors who have not acknowledged their authorship. (I have written many of them myself.) John Maynard Keynes ...

A System Block Diagram For A Business Cycle Model In this model of business cycles, two state variables, Y ( t ) and K ( t ), represent ...

Karl Marx wrote a lot about David Ricardo's economics. Here is some of what he had to say in Theories of Surplus Value : Ricardo star...

Two Great Economists 1.0 Introduction Michal Kalecki set out macroeconomic models in which markup pricing was common. Economists i...

A System Block Diagram For A Business Cycle Model I have previously presented a (replication of an) analysis of a discrete-time formaliza...

Table 3: The Perceived Importance of Problems Facing U.S.A. Problem % Wealthy Saying "Very Important" Budget deficits 87 Unempl...

This post notes the existence of the following article: Mitchell Lazarus (May 2013). When Spectrum Auctions Fail , IEEE Spectrum : pp. 33...

I would like to develop a numeric example with: Smooth production functions, and Properties analogous to the ones highlighted in this e...

I probably will not order the first two. But I think their existence is of interest. And I do not currently have access to the third. Nor...

Figure 1: Wage-Rate of Profits Curves and their Frontier 1.0 Introduction This post is a generalization of a neoclassical one-good model ...

Joshua Clover has a great one-page article on Krugman in this week's Nation . I'd like to quote the whole thing. But I'll make...

Figure 1: Coefficients of Production for the Technology 1.0 Introduction This post advances, somewhat, my start at a reconsideration of ...

Lars Syll has written a post , titled "Economics Textbooks - Decades of Scientific Fraud". If you had not already read it, could ...

1.0 Introduction This post summarizes one aspect of a theorem presented and proved by Roy Radner (1980). I have previously expressed skep...

Ratio of the Value of Capital to Labor This post summarizes a numeric example in which at least one country is unambiguously worse off und...