Lars P. Syll

The causal revolution in econometrics has gone too far Kevin Lewis points us to this recent paper, “Can invasive species lead to sedentary behavior? The time use and obesity impacts of a forest-attacking pest,” published in Elsevier’s Journal of Environmental Economics and Management, which has the following abstract: “Invasive species can significantly disrupt environmental quality and flows of ecosystem services and we are still learning about their...

Chomsky’s critique of postmodernism .[embedded content] One of Chomsky’s primary critiques of postmodernism lies in its epistemological stance. Chomsky argues that postmodern scepticism about objective knowledge can undermine the pursuit of scientific inquiry, which relies on the assumption that there are objective truths waiting to be discovered. Chomsky’s criticisms are forceful reminders of the pitfalls of extreme relativism and scepticism, and yours...

When people hear the word “complexity,” they respond in different ways. Some think “complicated” or “messy,” not being able to see the forest for the trees. Others think of a clutter of matter going this way and that with no chance to get a purchase on its behavior, to take hold of the “blooming, buzzing confusion” (James 1890, 462). Others think “chaos,” in the traditional sense, something unrestrained and uncontrollable, a realm of unpredictability and uncertainty that...

Why the euro has to be abandoned The euro has taken away the possibility for national governments to manage their economies in a meaningful way — and in Italy and Greece a couple of years ago, the people had to pay the true costs of its concomitant misguided austerity policies. The unfolding of the repeated economic crises in Euroland during the last decade has shown beyond any doubt that the euro is not only an economic project​ but just as much a...

In mainstream economic theory, institutions were long taken for granted. As the far-reaching consequences of institutional assumptions have become increasingly difficult to ignore, economists have, in recent times, made greater efforts to incorporate institutions into their models. This renewed interest in broadening economic theory to encompass economic and political institutions has centred on the analysis of property rights and transaction costs. Ronald Coase’s work has...

All Along The Watchtower .[embedded content] In loving memory of my older brother Peter Pålsson (1955-2001), a big Jimi Hendrix fan. But in dreams, I can hear your name. And in dreams, We will meet again. When the seas and mountains fall And we come to end of days, In the dark I hear a call Calling me there I will go there And back again.

The current state of game theory One of the most widespread myths in economics, but also in sociology and political science, is that game theory provides “tools” that can help solve concrete problems in these branches – especially in economics. Introductory and advanced textbooks thus often speak of the “applications” of game theory that are being made, giving the impression that they are revolutionizing the social sciences. But, looking more closely, we...

On the importance of history and methodology Nowadays there is almost no place whatsoever in economics education for courses in the history of economic thought and economic methodology. The standard view among mainstream economists is that students shouldn’t think about what they are doing, but just do it. This is deeply worrying. A science that doesn’t self-reflect and asks important methodological and science-theoretical questions about its own activity,...

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Adorno/Horkheimer and the dialectic of enlightenment .[embedded content]