Actually it's McCloskey dissing what she calls leftish economists generally, although poor Piketty and his notorious book provides the moment she seizes to attack us misguided folk. Riven through with fundamental error and hopelessly soft we have all, apparently, misunderstood the great sweep of history.
The lesson from which is that all is swell if we just leave it [more…]
This is off topic:
I have a number of American friends who are Republicans. For years they have berated Obama for a lack of leadership. They consider him arrogant yet ineffectual. They blame him for what they perceive as a decline in the power and prestige of America.
This is twaddle. But it is commonplace.
Hah! That caught your attention.
People who criticize General Equilibrium - henceforth GE - often fail to mention one of its major benefits to mainstream economists, one that explains its tenacity despite its obvious irrelevance as a real economic artifact.
This is that it is a weapon that allows economists to expunge politics from their [more…]