Lars P. Syll

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It is not possible to determine the scientific method that it is appropriate to employ for a given task (in a particular context) without knowing the nature of the task. And to know the nature of any scientific task it is always essential to have an insight into (i.e., to seek to determine) the nature of the material that is to be investigated … Now if there is one feature that provides the greatest obstacle in the path of economics achieving its potential as an explanatory...

On the best sellers list in economics and econometrics Yours truly’s latest book has made it onto Amazon’s lists of best sellers in economics and econometrics. I am — of course — truly awed, honoured and delighted.

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Stairway to pop history .[embedded content]

A girl like you .[embedded content]

Does it — really — “take a model to beat a model”? When we provide such a critique, we often hear another mantra to which many economists subscribe: ‘It takes a model to beat a model.’ On the contrary, we believe that it takes facts and observations to beat a model … If a model fails to answer the problem to which it is addressed, it should be put back in the toolbox … It is not necessary to have an alternative tool available to know that the plumber who...

Is economics already pluralist? Some argue that economics as a science is already pluralist and that the critique of pluralists addresses a strawman. Newly emerged research areas such as behavioral economics are often presented as examples. Yet, to assess the argument that ‘economics is already pluralist’, one has to be explicit about the dimension and degree of plurality that is being considered … Considering the topical dimension of economics, for...

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The recurring pattern in financial crises is more or less the same. For some reason, a shift occurs in the economic cycle (such as war, innovations, new regulations, etc.) that leads to changes in the profit opportunities for banks and companies. Demand and prices rise, pulling more and more parts of the economy into a state of euphoria. Speculative mania, whether it pertains to tulip bulbs, real estate, or mortgages, becomes a reality. Sooner or later, someone sells to cash...