…great book came in 1936. Let’s go back in time a bit… a century ago in the United States, Institutional economics was centered in the Wisconsin School. “The Wisconsin school…

Many economists — mostly the freshwater/neoclassical/supply-side/conservative types, but also many on the left — hold in their heads a very peculiar model of how economies work. It’s a model of…

…in the euphemistically labeled “business cycle” Honey’s response would be: “But I don’t know where else we can cut!” Of course to the conservative there is always something that money…

…those freshwater economists who think the way to deal with the problem of failed market fundamentalism policies is to double-down on those failed policies. I’ve noted that we tried that…

…Should gay marriage be legal? Should Evolution and Creationism be taught side-by-side in schools? In each case, complexity-preferrers are 65-70% likely to give the Liberal answer. And those who prefer…

…1 or 2 (when there is a much longer wait to get unemployment benefits). If this solves the problem of anyone looking for a thesis topic at a Freshwater school,…

…furiously collecting as much as they can in little bottles in their pockets). Do you think you’re gonna win the race? But here’s what’s weird: neoclassical economics basically ignores the…

…does not take some great new “freshwater” theory to explain why the stimulus is not working as expected, simple old fashioned Keynesian models explain it adequately. So compare this with…

…indoctrinated by freshwater economist thinking that they buy into the myths of the wealthy as the entrepreneurs that make our civilization possible. Whatever their reasons, it is discouraging to see…

…reason the call Freshwater Economics ‘Orthodox’ and it is not just because it established its position first. Questions like “Why private insurance?” are more akin to challenges to the catechism….