Lars P. Syll

What’s wrong with Krugman’s economics? Krugman writes: “So how do you do useful economics? In general, what we really do is combine maximization-and-equilibrium as a first cut with a variety of ad hoc modifications reflecting what seem to be empirical regularities about how both individual behavior and markets depart from this idealized case.” But if you ask the New Classical economists, they’ll say, this is exactly what we do—combine...

Prag — Tor zur Freiheit  [embedded content]

Adults in the room  [embedded content]

Why we need pluralist economics  [embedded content] The only economic analysis that mainstream economists accept is the one that takes place within the analytic-formalistic modeling strategy that makes up the core of mainstream economics. All models and theories that do not live up to the precepts of the mainstream methodological canon are pruned. You’re free to take your models — not using (mathematical) models at all is considered totally unthinkable —...

 [embedded content]

How to do — and not to do — economics [embedded content][embedded content] Great lectures on how to do — and not to do — economics, delivered by a great historian and economist, Robert Skidelsky. Here you can follow them all.

 [embedded content] Mer naken och självutlämnande musik är svår att hitta. En rak höger i solar plexus. Peter LeMarc imponerade för trettio år sedan. Det gör han fortfarande.

The M/S Estonia disaster Twenty-five years ago, on September 28, 1994, M/S Estonia was on its way from Tallinn to Stockholm with 989 people on board, when the visor in the ship’s bow door opened and the ship sank. 852 people died and 137 people survived in the worst maritime accident ever on the Baltic Sea.  [embedded content]

Sargent’s ‘Nobel prize’ winning mumbo jumbo The Royal Swedish Academy of Sciences decided back in 2011 to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Thomas Sargent and Christopher Sims “for their empirical research on cause and effect in the macroeconomy”. In an interview with Thomas Sargent in The Region, the Nobel prize winner tried to defend the kind of  “modern macro” he himself has been part of developing:...

It can be said without great controversy that no other theoretical approach in this century has ever enjoyed the same level of ubiquity throughout the social sciences as the rational choice approach enjoys today. Despite this ubiquity, the success of the approach has been very tenuous. Its advance has been accompanied by an intense debate over its relative merit. The approach has been subject to the usual criticism of blatant inaccuracy given by outsiders to any would-be...