…the macroeconomic theory that has prevailed in the United States for the past few decades, and which American economists have managed to sell to the rest of the developed world…

…area above that to 100% are the portion of GDP that is being allocated to capital). Economic theory tells us that if something is receiving excessive rents—as capital is clearly…

…maximizing theory of advertising against the CEOs ego theory? OK I admit that Hollis has another bit of evidence — the advertising skeptic who provoked the post remembers brands. I…

…and shot the same day. His most important works were finally made available in English in 1966 under the title The Theory of Peasant Economy. The material is quite dense…

…of evidence that indicates the theory is actually more robust than it looks. Consider the following reasonable assumptions: 1. changes in the tax burden are indicative of behavior of the…

…And even the most powerful intuition about the meaning of the Constitution must be matched with a textual and enforceable theory of constitutional limits, and the activity/inactivity dichotomy does not…

This is pure speculation (also called theory). I have no respect for economic theory definitely including my own efforts, so the post will all be after the jump. I will…

Paul Krugman To be fair, applying maximizing thinking has achieved some major successes even in macroeconomics. The permanent income/life cycle style of consumption theory does a much better job of…

…rewards for contributing to our society, a theory that was in the 19th century called “marginal-productivity theory,” then you could say, “OK, those who contribute more should get more.” But…

…couldn’t make much money dealing with that person. If one believes in the EMH and doesn’t have private information (not a strategy or algorithm or theory but knowledge of relevant…