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Read More »Master Class
. [embedded content] Bille August’s and Ingmar Bergman’s masterpiece. With breathtakingly beautiful music by Stefan Nilsson And it breaks my heart every time I watch it.
Read More »Time
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Read More »NAIRU — closer to religion than science
NAIRU — closer to religion than science Once we see how weak the foundations for the natural rate of unemployment are, other arguments for pursuing rates of unemployment economists once thought impossible become more clear. Wages can increase at the expense of corporate profits without causing inflation … The harder we push on improving output and employment, the more we learn how much we can achieve on those two fronts. That hopeful idea is the polar...
Read More »Mainstream economics finally made it …
Mainstream economics finally made it … Wooh! So this is reality!
Read More »NAIRU — a harmful fairy tale
NAIRU — a harmful fairy tale The NAIRU story has always had a very clear policy implication — attempts to promote full employment is doomed to fail, since governments and central banks can’t push unemployment below the critical NAIRU threshold without causing harmful runaway inflation. Althouigh a lot of mainstream economists and politicians have a touching faith in the NAIRU fairy tale, it doesn’t hold water when scrutinized. One of the main problems...
Read More »Rites
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Read More »If thou hast shown mercy
If thou hast shown mercy [embedded content] If thou hast shown mercy unto man, o man, that same mercy shall be shown thee there; and if on an orphan thou hast shown compassion, that same shall there deliver thee from want. If in this life the naked thou hast clothed, the same shall give thee shelter there, and sing the psalm: Alleluia.
Read More »On logic and science
On logic and science Suppose you conducted an observational study to identify the effect of heart transplant A on death Y and that you assumed no unmeasured confounding given disease severity L. A critic of your study says “the inferences from this observational study may be incorrect because of potential confounding.” The critic is not making a scientific statement, but a logical one. Since the findings from any observational study may be confounded, it is...
Read More »Postmodern thinking
The compulsive types there correspond to the paranoids here. The wistful opposition to factual research, the legitimate consciousness that scientism forgets what is best, exacerbates through its naïvété the split from which it suffers. Instead of comprehending the facts, behind which others are barricaded, it hurriedly throws together whatever it can grab from them, rushing off to play so uncritically with apochryphal cognitions, with a couple isolated and hypostatized...
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