I am hardly alone in ranting on about economics, but it never changes. How can it? The intellectual honesty required to make the sort of shift needed to recapture the discipline's honor simply doesn't exist. Its practitioners are too deeply embedded and ingrained. Its students are too intimidated by the burden of its closed [more…]
Let's have fun:
There are probably plenty of people out there who are intimidated by the constant jargon and obscurity of economists. After all economics is well known to be laden with mathematics, counter intuitive insights, and all manner of models -- large and small -- to cover situations that most of us have never thought [more…]
A few days ago David Ruccio posted an article titled "Crash and Learn" on the state of economics education. I want to elaborate a little further, although my usual skepticism on this subject does bridle a tad at the concept of economics education. Is that the same as "military intelligence"?
Anyway, in that article is this quote:
As I awake from my self-imposed slumber and re-survey the state of economics:
Nothing has changed.
This is predictable, and, I submit, is the most predictable phenomenon within the ambit of the discipline. Economics is in disrepute, and its current elite are determined to keep it there.
The latest ersatz Nobel prize went to a [more…]
I am too busy to write much here until the beginning of October, but ...
I think the only wall Donald Trump will ever build is a wall of lies.
Is he capable of telling the truth?
Practically everything he says is an invention or a contradiction of something he said before. The man is [more…]