Modern Monetary Theory has been revolutionary in economics, and its influence is — beneficially — ever-more pervasive. It has opened the eyes of a generation to a clear-eyed, accounting-based methodology…

…demand still goes unfulfilled. To explain effective demand, I refer to a book by Connell Fanning and David O Mahony, The General Theory of Profit Equilibrium: Keynes and the Entrepreneur…

This is a post about macroeconomic theory. It is technical and I honestly don’t know how much is already in the literature. The aim is to address an important policy…

…level of nominal aggregate demand when focusing on aggregate supply. Because it wasn’t the focus, they used the simplest existing model of aggregate demand the rigid quantity theory of money…

…and Conscience was published. Rapoport used a systematic exposition of decision theory to demonstrate the essential irrationality of strategic thinking, which prides itself on its supposedly rigorous rationality. Of course,…

…in the country generally, is a fixed quantity.” “Their theory is that the amount of work to be done is a fixed quantity,” recited the London correspondent to the New…

…A parallel with string theory from physics hints at a general failure mode of science that is triggered when respect for highly regarded leaders evolves into a deference to authority…

…macroeconomics is not good If you think international relations theory has problems, let me introduce you to the most influential and problematic subfield of economics. Pwnd. Sick burn. I mean…

…of him more than a year after the invasion. And about Lauer’s extensive questioning of Clinton about her emails—on the theory that this issue hadn’t received enough news coverage. And…

…might be. I don’t even have a working theory on this. ____ UPDATE: Reader Warren, who is helping me solve this riddle, thinks the problem is not Trump, but Parker….