Lars P. Syll

The tiny little problem that there is no hard empirical evidence that verifies rational expectations models doesn’t usually bother its protagonists too much. Rational expectations überpriest Thomas Sargent has defended the epistemological status of the rational expectations hypothesis arguing that since it “focuses on outcomes and does not pretend to have behavioral content,” it has proved to be “a powerful tool for making precise statements.” Precise, yes, but relevant and...

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What makes economics a science? Well, if we are to believe most mainstream economists, models are what make economics a science. In a recent Journal of Economic Literature (1/2017) review of Dani Rodrik’s Economics Rules, renowned game theorist Ariel Rubinstein discusses Rodrik’s justifications for the view that “models make economics a science.” Although Rubinstein has some doubts about those justifications — models are not indispensable for telling good...

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The essence of neoliberalism Economists may not necessarily share the economic and social interests of the true believers and may have a variety of individual psychic states regarding the economic and social effects of the utopia which they cloak with mathematical reason. Nevertheless, they have enough specific interests in the field of economic science to contribute decisively to the production and reproduction of belief in the neoliberal utopia. Separated...

La force de l’autorité scientifique, qui s’exerce sur le mouvement social et jusqu’au fond des consciences des travailleurs, est très grande. Elle produit une forme de démoralisation. Et une des raisons de sa force, c’est qu’elle est détenue par des gens qui ont tous l’air d’accord entre eux — le consensus est en général un signe de vérité. C’est aussi qu’elle repose sur les instruments apparemment les plus puissants dont dispose aujourd’hui la pensée, en particulier les...