Louis Woodhall writes in The Real Social Security Crisis is Economic Growth: The Trustees of the Social Security Administration assume (in their “Intermediate” case”) that over the next 75 years,…

…are isolated to individual people within a multitude of influencing factors, and the differences between a traditional theory and a more comprehensive theory are subtle to understand. The hope is…

…— the ones which are taught first. The current body of theory does not support either conclusion. It is possible to come up with models so that the minimum wage…

Steve Randy Waldman has utterly pre-empted the need for this post, cut to the core of the thing, in the opening line of his latest (collect the whole series!): When…

…all orthodox economic theory, involves a special assumption as to the relationship between these two functions. … The classical theory assumes, in other words, that the aggregate demand price (or…

…whose equations were not microfounded, but instead justified by an eclectic mix of theory and empirics. That work within academia did largely come to a halt, and was replaced by…

…seem to change the basic story. However, it is possible (in theory) for there to be a large jump in expected inflation. In some standard models this can happen in…

…refutation of Creationists, although I don’t remember—that it is scientists, not those who contest and try to interfere with scientific discoveries, who will ultimately prove or disprove scientific theory. A…

Or how about another former Washington corporate mega-law-firm partner? Like John Roberts?! Only moderate. I mean, but what if he or she is an Asian? And would be the first…

Well, well, the dear old National Rifled Assholeciation has weighed in with its theory. Assault weapons don’t kill people, “political correctness” does. “The National Rifle Association (NRA) on Tuesday defended…