…economics profession about Effective Demand. His views will not only challenge Fresh Water economists, but also Salt Water economists. (His talk starts at 9-minute mark.) His idea of Inverse Say’s…

…need to reject standard economics either to explain high inequality or to consider it a bad thing.” At the heart of the neoclassical apparatus lie the twin concepts of marginal…

…lot of economists use the tools of science to accomplish literary– or lawyerly — goals.” — Noah Smith, Economics Isn’t Science or Literature If that’s the case, what’s “the law“?…

…report by Clark, Economics of Planning Public Works, was published in 1935 by the National Planning Board of the Federal Emergency Administration of Public\Works. In Chapter Nine of his 1935…

Modern Monetary Theory has been revolutionary in economics, and its influence is — beneficially — ever-more pervasive. It has opened the eyes of a generation to a clear-eyed, accounting-based methodology…

The debate between Gerald Friedman and the economics profession seems to be settled — Friedman agrees that he may have made a mistake. It is really unfair to him that…

…advance of my upcoming class. Martin Weitzman has been heavily involved in CC economics for several decades, and his 2011 paper “Fat-Tailed Uncertainty in the Economics of Catastrophic Climate Change”…

…Noah in his post. ¯\_(ツ)_/¯ ) The cartoon by Mark Perry is stupid economics. Let me show you a much better cartoon of how the minimum wage works. Now, the…

…rises in employment due to exports and alsogains due to increases in efficiency and economics of scale that accompany specialization. In addition, lower prices due to imports raise real incomes….

…economics gets more empirical, it also gets more reliable. Russ Roberts says that, in the name of empiricism, economists are trotting out contested results to adjudicate questions that are vastly…