economic theory

Doomed to Repeat?

by on November 16, 2017

One of the great pleasures of living here in southern Vermont is that we have a terrific local bookshop. I go there simply to absorb [more…]

Apologies Not Accepted

by on July 18, 2017

OK, let me get back to it:

I have just read a set of short papers over at a journal aptly named Democracy. The papers [more…]

Economics 10Whatever

by on June 27, 2017

I have been less vexed about economics recently precisely because I have been focused on other, and more urgent, topics. The politics of our age [more…]

Equilibrium: A Weed to Pull

by on May 18, 2017

Just how pejorative must we be in order to get attention? There are silly things in economics that need to be weeded out, so that [more…]

Limits

by on May 5, 2017

I don't understand why people get upset when I say that economics is a waste of time. I suppose it's because I don't make a [more…]

Channelling Galbraith

by on April 28, 2017

Jamie Galbraith's conclusion in his essay at Dissent magazine:
"The progressive alternative to an economic program of reckless stimulus and real-estate capital gains is a [more…]

Complex Simplicity

by on April 25, 2017

Simplification, in the context of an economy, is the eradication of all things of interest. This does not mean that studying an economy is thus [more…]

Nailed to Its Perch

by on April 21, 2017

I always use some famous Chicago School economist as my representative fool when I am describing mainstream economics to my uninitiated friends. How does one, [more…]

Reflections

by on April 7, 2017

It is easy to be partisan. It is easy to believe in sweeping utopian solutions. It is easy to delude yourself that what you think [more…]

Firms: Who Knew?

by on April 4, 2017

One of the controversies buried by contemporary economists in their great cause of advocating market freedoms, is that of the role of central panning. There [more…]