…notes that Lucas misunderstood the implication of standard macro models for the effects of temporary government spending increases on aggregate demand. The arguments for austerity were much more at variance…

…only act on extremely firm knowledge. It is, in this case, not going to be first do no harm. The second dose has side effects (mild but not zero). There…

…money ($600,$2000,$1400 whatever) is like a windfall — people get something and no one has to pay – ever. However, increased public debt also has side effects. In particular, unless…

…inadvertent. They planned this outcome.” Exactly. The failure to consider the effects of deep cold weather on the mechanicals is a line of specification within the plan. The specification was…

…on the social and political effects of inequality — separate (though tightly related) issues. But unlike the steady stream of “incentive” theory from Right economists over decades, Left and heterodox economists…

…the contractionary effects of that by stimulating aggregate supply, apparently ignoring the demand-side effects of such tax cuts.  This would be what Reagan would do early in his term, although…

…trait is firmly acquired in the offspring). Genetic manipulation is controversial mostly because we haven’t yet seen the “what else happens” effects. Arguably, the knock ons of this science are…

…research on the sources and causes of wealth and income concentration. There’s been a lot of important work on the social and political effects of inequality — separate (though tightly…

…typically don’t move very far in their lifetime, so when sampling at a given point, we can be confident we are precisely measuring local effects (whereas adults are very mobile…

…society. This opposition to others that are somehow different has been increasing in reaction to the increased influx of migrants: migrants fleeing the effects of Climate Change; migrants displaced by…