Lars P. Syll

That’s the right spirit!  [embedded content]

What’s wrong with MMT? Nothing! MMTists often like to position themselves as the only ones to properly understand the ‘operational realities’ of modern monetary systems. Ironically, many of the claims made by MMTists on this topic are misleading at best. One common rhetorical tactic that I’ve noticed they employ, which often catches their critics out, is to use the term ‘government’ in a way that’s different typically from how it is used in mainstream...

What makes collective action more likely? [embedded content]

 [embedded content] Respiro il silenzio Dei tuoi pensieri Un giorno sarai Tutto quello che speri

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Abba Lerner and the true nature of public debt One of the most effective ways of clearing up this most serious of all semantic confusions is to point out that private debt differs from national debt in being external. It is owed by one person to others. That is what makes it burdensome. Because it is interpersonal the proper analogy is not to national debt but to international debt … But this does not hold for national debt which is owed by the nation to...

Equilibrium — an assumption making many theories inaccurate For the learning rules we study, the players never converge to any sort of “intertemporal equilibrium”, in the sense that their expectations do not match the outcomes of the game even in a statistical sense … Are these results relevant for macroeconomics? Can we expect insights that hold at the small scale of strategic interactions between two players to also be valid at much larger scales? While...

Les actes antisémites en hausse en France Après deux années de baisse, les actes antisémites en France sont en très forte hausse (+ 69 %) sur les neuf premiers mois de 2018, s’alarme le premier ministre Edouard Philippe dans une tribune publiée vendredi 9 novembre sur Facebook. « Chaque agression perpétrée contre un de nos concitoyens parce qu’il est juif résonne comme un nouveau bris de cristal », affirme le chef du gouvernement dans cette tribune publiée...

The limits of probabilistic reasoning Almost a hundred years after John Maynard Keynes wrote his seminal A Treatise on Probability (1921), it is still very difficult to find statistics books that seriously try to incorporate his far-reaching and incisive analysis of induction and evidential weight. The standard view in statistics — and the axiomatic probability theory underlying it — is to a large extent based on the rather simplistic idea that more is...

1) Hemstaden Jacques Werup (1981) 2) Underdog Torbjörn Flygt (2001) 3) De ensamma pojkarna Mats Olsson (1995) 4) Stuv Malmö, kom! Fredrik Ekelund (1984) 5) Yarden Kristian Lundberg (2009)