Why is Macroeconomics such a mess?
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Exit from comment view mode. Click to hide this space Comments View/Create comment on this paragraph CAMBRIDGE – When the stakes are high, it is no surprise that battling political opponents use whatever support they can garner from economists and other researchers. That is what happened when conservative American politicians and European Union officials latched on to the work of two Harvard professors – Carmen Reinhart and Kenneth Rogoff – to justify their support of fiscal austerity. Comments View/Create comment on this paragraph Reinhart and Rogoff published a paper that appeared to show that public-debt levels above 90% of GDP significantly impede economic growth. Three economists from the University of Massachusetts at Amherst then did what academics are routinely supposed to do – replicate their colleagues’ work and subject it to criticism.
Endogenous vs. Exogenous money
How should we teach economics?
Economics and Ideology...
Philip Pllkington: Purging Economics of Religion – A Rebuttal to Robert Nelson’s Defence of The Great Chain of BeingBy Philip Pilkington, a writer and research assistant at Kingston University in London.
One of the financial system’s chief roles is to provide credit for worthy investments.
By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil
By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil We have a lot to be thankful for today that we owe to Alan Turing – who is generally recognised as among the first, if not the first, computer scientist.
The economics discipline has for the most part managed to ignore the 800 pound gorilla in the room: that of the role that the financial services industry has come to play. Astonishingly, even though the reengineering of the world economy along the lines preferred by mainstream economists resulted in a prosperity-wrecking global financial crisis and a soft coup by financiers, the discipline carries on methodologically as if nothing much had happened.
April 12, 2012
John Emerson: Brad DeLong: Luke Lea Gets It Wrong, I Think: Assessing John Cochrane's "Can't I Let Sleeping Dogs Lie?" Department: Brad's argument would make sense if none of his bullshit artists had been awarded Nobel Prizes for economics, or if most of them did not outrank DeLong in the profession.
Occupy Wall Street has thrown off many sparks.
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shortcomings of neoclassical economic theory
on the Systemic failures of mainstream academic economics