…made but not fulfilled. Are the chances of success any better now? Peter Boone of the Centre for Economic Performance at the London School of Economics and Simon Johnson of…

…considered myself a Water type person after talking with that Indian philosopher. I am concerned about the overall balance and sustainability of social economics. My guiding principle is “Marginal social…

Arthur over at New Arthurian Economics has posted a much-appreciated though decidedly negative reply to my recent post on the nature of money and financial assets. He and I have…

…of capitalism/economics. Side comment; FIFA governs soccer games utilizing the laws of the game which are open to interpretation by various referees monitoring the game. Laws are not rules and…

…proportion and a fixed amount. One might suppose that economics has inherited a special concern for proportion from Graunt and Petty, the pioneers of political arithmetic. Unemployment and interest rates;…

…the money supply; they end up starting to believe that everything in economics hinges on getting that measure right, when in fact almost nothing does. He’s certainly — obviously —…

…But it’s also crippling to the progressive agenda. Economics and the constructs on which it is built are inescapably normative — centuries of faux-positivist theorizing notwithstanding. Conservatives pretend otherwise while…

…a post at the Growth Economics Blog on this very issue. The post refers to a paper titled, Reallocation in the Great Recession: cleansing or not? The paper says that…

…already when I arrived in economics in 1985. But this is a blog. Clearly the new Keynesian school is a response to the rational expectations revolution. Roughly (and remembering vaguely)…

Brad DeLong is great as an educator and a thinker. I bet that even he struggles to understand economics fully. We all have to develop theories to progress the field…