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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]