…the womb with a sophisticated (or even rudimentary) understanding of economics.  Further, as Hayek emphasized, the beliefs that come so naturally to Saitō, and to the young people in Heath’s…

…explain Keynesian economics to the general public, using actual facts–such as the reason for the economic contraction–and point out that Boehner & Co. either are ignorant of the facts or…

Talk is called “Neat, Plausible, and Wrong: the Deluded Discipline of Economics.” I have to quibble with the “plausible” portion: there is no possible way to rationalize contemporary Microeconomics with…

…switch if anything. MF: Yes, and it has been mostly since. RK: Right. But one of the paradoxes here is that the law and economics movement seems to be in…

…nonrenewable resource price movements, all impinge on the cost/output relationship. Let’s make it simple: supply side economics isn’t simply about whether tax cuts generate their own revenue fixes, but rather…

On June 10th, 2009, Paul Krugman gave a lecture at the London School of Economics on how economics should be taught differently after the crisis. (It was actually the third…

…in the economics literature, with one exception. No ordinary person doubts that there are good and bad jobs and workers in bad jobs qualified to do the good jobs. The…

For the moment, let’s go with old saw that “economics is the study of scarcity.” (Though I disagree with it; the proper study of economics is human reaction functions.) What’s…

…best term for your type of model. I think you do “two Keynesian” economics, that is new Keynesian economics with two periods. Of course you reject the too Keynesian approach…

…writes about labor share when he is supposed to be an expert on international economics. Anyway, the article continues… “We find that, firstly, rising (top-end) personal inequality leads to a…