Lars P. Syll

At the age of thirty-seven  [embedded content] Still absolutely breathtakingly great!

LOGIC of science vs. METHODS of science  [embedded content]

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Against multiple regression analysis Distinguished social psychologist Richard E. Nisbett has a somewhat atypical aversion to multiple regression analysis . In his Intelligence and How to Get It (Norton 2011) he wrote (p. 17): Researchers often determine the individual’s contemporary IQ or IQ earlier in life, socioeconomic status of the family of origin, living circumstances when the individual was a child, number of siblings, whether the family had a library card, educational attainment...

The force from above cleaning my soul  [embedded content]

Krugman — a Vichy Left coward Paul Krugman’s recent posts have been most peculiar. Several have looked uncomfortably like special pleading for political figures he likes, notably Hillary Clinton. He has, in my judgement, stooped rather far down in attacking people well below him in the public relations food chain … Perhaps the most egregious and clearest cut case is his refusal to address the substance of a completely legitimate, well-documented article by David Dayen outing Krugman, and...

Thatcher policies for dummies

What is Post Keynesian economics?  [embedded content]

Deduction — induction — abduction In science – and economics – one could argue that there basically are three kinds of argumentation patterns/schemes/methods/strategies available: Deduction Premise 1: All Chicago economists believe in REH Premise 2: Robert Lucas is a Chicago economist —————————————————————– Conclusion: Robert Lucas believes in REH Here we have an example of a logically valid deductive inference. In a hypothetico-deductive reasoning — hypothetico-deductive confirmation in...

‘New Keynesian’ DSGE models In the model [Gali, Smets and Wouters, Unemployment in an Estimated New Keyesian Model (2011)] there is perfect consumption insurance among the members of the household. Because of separability in utility, this implies that consumption is equalized across all workers, whether they are employed or not … Workers who find that they do not have to work are unemployed or out of the labor force, and they have cause to rejoice as a result. Unemployed workers enjoy...