…is something profoundly wrong with economic teaching when it “seems kind of sacrilegious” to transgress a bogus fallacy claim that has no standing in economic theory and absolutely no supporting…

…link racism and free market conservatism in theory, and began the first steps to break with the Democratic political order in practice. This process of forging new political identifications and…

…anything that was true but not obvious. It took him a couple of years, but eventually he gave an excellent and topical example – simply the theory of comparative advantage….

…Greens’ proposal: The Greens’ proposals encounter two problems. First, the theory. They argue that the reduced hours worked by some could be redistributed to others in order to lower underemployment….

…government spending would lead to an increase in economic growth. Even a relatively small boost in government spending, in theory, could have a big consequences through the multiplier effect –…

…that forces unresolvable contradictions under the rubric of critical theory. The result is induced nihilism, a belief in everything that is actually the belief in nothing. What does this mean?…

…macroeconomic theory, macroeconomists ignore the facts. Since the uses to which ocountries might put the increased wealth obtained by trade lays outside their theory, they are blinkered and blind to…

…in 1980, his fourth most cited, “The Pure Theory of Consumer Choice,” in which he introduced the concept of mental accounting, the first item cited by the Nobel committee in…

…year too. Of course, at some point, the future effects of today’s tax rates dissipate. Not having a precise theory, it probably pays to consider several of these “effect periods”…

…facts bow to theory). First decades ago it was assumed that any relationship should be between unemployment and the acceleration of inflation not the level of inflation. Second, the high…