…that the fiscal stance can be measured by the deficit is plain wrong. In theory it is totally wrong. The evidence (mostly from the balanced budget spending increase to finance…

William S. Lind’s cultural Marxism conspiracy theory boils down to the claim that in his essay, “Repressive Tolerance,” Herbert Marcuse “called for tolerance for all ideas and viewpoints coming from…

…jump, I say that academically prominent macroeconomists who work near great lakes are so far out into theory that they can barely communicate with policy makers or ordinary people. Then…

…Mess We’re In” https://www.nytimes.com/2019/08/24/opinion/sunday/economics-milton-friedman.html which I have read. It is unfair to economists and to economics. Applebaum describes the economic theory which was extremely influential in the 1980s & 1990s….

Bicycles and Wine Tariffs Jeffrey Frankel has a must read blog over at Econbrowser: The “bicycle theory” used to be a metaphor for international trade policy. Just as standing still…

…on strong assumptions so economic theory isn’t very useful. He praises simple empirical work instead. I will discuss Smith contra Acemoglu, Chernozhukov, Werning and Whinston and Smith pro Sergio Correia,…

…still be around in November when the election comes. There are various speculatons about who these are. One theory is that they are federal prison guards. Another is that they…

…his influential 1905 The Theory of Interest, with the problem being one of his iconic ones in developing his theory. His solution was neatly intuitive and simple: cut the tree…

…to as John Locke’s “labour theory of property.” It is a extraordinarily compelling narrative, resplendent with “self-evident truth” (“We hold these truths to be self evident…) and nearly indiscernible ambiguity…

…use a new theory of construction to overturn long-existing precedents. (Before you consider this a universally bad thing, remember that Plessy v. Ferguson was good law for about 70 years…