…And so the accelerationist Phillips curve was born. In this equation the change of inflation is a function of unemployment. It wasn’t ever respectable theory, and it doesn’t fit data…

I will ease the pain from this early morning (when GOP senate slashed corporate taxes) by escaping into fantasy, I mean theory, but I repeat myself. A key theoretical argument…

…corporate tax break is justifiable, based on the GOP “economic theory” that claims that a lower corporate tax rate will “spark so much additional investment in the United States that…

…Theory Conference, touching on some of the fundamental ways we think about money and economics. (Sorry, no recording or transcript available.) I had a brief conversation with him afterwards, and…

…are largely invisible except to accounting-theory adepts. The FFAs’ closed-loop construct depicts, promulgates, and validates the whole factors-of-production worldview (each according to its contribution…) which underpins travesties like Greg Mankiw’s…

…countries, Home and Foreign. (That’s an old-fashioned trade theory convention.) In both countries, labor is the only factor of production (not gonna get into income distribution today). There are two…

…require rather heroic economic assumptions — about factor contributions to production, variously imputed “rental” payments for capital, “factorless” income, etc. It’s hard to peer through all that theory and manipulation to know what…

…theory, and complex systems, still active. He coined the terms “chaotic hysteresis” and “chaostrophe,” among numerous other ideas, with his work influencing mine more than any of these others. He…

…American Federation of Labor in the 19th century was based on a dynamic theory of leisure, consumption and technological improvement that in many respects anticipated Keynes analysis more than fifty…

…by policy an imperative for achieving reductions. These are not the opinions of radicals or crackpots but the conclusions of theory and empirical research conducted by economists of the first…