Thoughts On Economics

I happen to think the minimum wage in the United States should be raised. I'll go along with the consensus of $15 an hour. I also hap...

Blair Fix argues that economists argue in a circle in putting forth the marginal productivity theory of distribution. I know that there is...

This post, as suggested, extends this one-good example. I assume a constant returns-to-scale technology, as specified in Tables 1 an...

I am being published in Structural Change and Economic Dynamics . Currently, this link is without my corrections to proofs, I guess....

I know that the idea of a "natural rate" of unemployment or a non-accelerating inflation rate of unemployment (NAIRU) makes no se...

Figure 1: A Pattern Diagram I have put up a working paper with the post title. Abstract: This article considers Harrod-neutral t...

"One of the curious things about our educational system, I would note, is that the better trained you are in a discipline, the less us...

Carlo Milana has posted a paper on arXiv. I was prepared to accept this paper's claims. Economists have developed price theory. Referri...

Young Children Policing Group Members This post presents examples of psychologists inducing stress in experimental subjects, some showing...

This post is about the misrepresentation of Sraffian capital theory in Lewin and Cachanosky (2019). I cannot recommend this short book. Pre...

Figure 1: APP Around Switch Points 1.0 Introduction I take it that the Austrian theory of the business cycle builds on Austrian cap...

Those who understand price theory reject the theory of the Austrian Business Cycle (ABC). I am thinking here that its logical invalidity fo...

I have been thinking of posting a review of Quiggin's book, but this is not it. I suppose I should mention that I am in the acknowledge...

Figure 1: A Pattern Diagram Consider an example of the production of commodities, in which many commodities are produced within capi...

The Growing Importance of Finance in the Post-War U.S. Economy As I understand it, Marco Rubio takes from Post Keynesians the idea t...

Ezra Klein writes about John Kenneth Galbraith's concept of countervailing power. Ingrid Kvangraven and Carolina Alves are busting m...

1.0 Summary of Defense Last month, Mike Munger purports to "summarize the basic argument for capitalism" (emphasis added). He...

Figure 1: Wage-Rate of Profits Curves Consider a comparison of stationary states. Net output is taken as given, and a unit of net ou...

Many years ago, I used to argue, on Usenet, about the Cambridge Capital Controversy. Many mainstream economists used to ignorantly assert ,...

Fact: If you use the word "carceral" instead of "prison" your argument immediately becomes more persuasive. Good pra...