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Study the Shocks

by on September 30, 2014

A system in motion stays in motion. A system at rest stays at rest.

Good so far.

But: our question is a little more interesting. [more…]

Wittgenstein’s Silence?

by on September 29, 2014

Because it is pointless adding to an already over stuffed vacuum.

Economics as currently construed is a discussion about a small percentage of all economic [more…]

Economics as the Third Culture?

by on September 8, 2014

Is economics a "third culture" the way Noah Smith suggests it is?

Is it sufficiently different that it deserves its own category apart from the [more…]

More Self-Criticism

by on August 25, 2014

And while I am on the subject I see Krugman makes the case that "real economics", aka supreme belief in market magic, may well not be [more…]

Self Criticism in Economics

by on August 25, 2014

This is a bit of a rant. Please bear with me.

I rarely do this, but here's a link to one of my favorite economics [more…]

Is Economic Orthodoxy Anti-Democracy?

by on August 22, 2014

Yes it is.

The explanation is found in the genesis of classical economics and then in its idealization of the marketplace.

At its onset the modern [more…]

A Reminder on Democracy

by on August 14, 2014

I am cleaning up my files. The Gilens and Page article on democracy in the US is in the pile. This is a reminder of their [more…]

Unsound on Equality

by on August 13, 2014

In a recent speech I gave on inequality, I described the relevance of economics in a series of quotes thusly:
"Political economy you think is [more…]

Various Thoughts

by on July 9, 2014

There is no point is bashing away at old economics or old economists. They are what they are. And it isn't as if there is [more…]

Clockwork Justice?

by on July 3, 2014

One of the central beliefs held by people who advocate a market based worldview is that, somehow, markets are apolitical, they are antiseptic, they are [more…]