Monday, December 18, 2017

Elsewhere And Some Time Ago

  • Unlearning Economics adds a comment to a long-ago thread on the ignorance of Henry Hazlitt.
  • Tim Worstall lies (I informed Worstall at least a decade ago of the existence of economists who do not agree):

"These old things about supply and demand in Econ 101 really are true, when the price of something rises then people do tend to buy less of it. Force up the minimum wage and people will buy less minimum wage labour.

All economists would agree to the basic idea, the discussion becomes at what wage does that effect start to predominate?"

  • In a comment on Reddit, glenra ignorantly asserts that "nobody except [me] is likely to refer to an argument [by Pierangelo Garegnani or Arrigo Opocher & Ian Steedman] as 'building on the work of' Piero Sraffa."
  • On some discussion site for video gamers, a thread devolves to, apparently, some academic economist asserting that I am "quite keen on a topic only kept barely alive by fifth-rate Marxists". But this ignorant economist admittedly has nothing substantial to say.
  • Eric Lonergan argues that there is no equilibrium real rate of interest. Although he does not note this, this is an implication of the Cambridge Capital Controversy.

1 comment:

Unlearningecon said...

LOL it suddenly occurred to me that Henry Hazlitt was a thing and I thought I'd re-read both of our old posts on him :)

While I'm here, may as well shamelessly plug my new article in case you haven't seen it: