Heterodox
Robert Heilbroner hits it out of the park in this short article, originally a speech. It's a fun read, too.Grasping RealityRobert Heilbroner (1996): The Embarrassment of Economics: Weekend ReadingBrad DeLong | Professor of Economics, UCAL Berkeley
Read More »Sandwichman — “Opportunity Cost of Socialism”
Why is the Council of Economic Advisers producing party political propaganda for the GOP?… Are Trump's "economic advisers" really so ignorant of basic economic concepts beyond the most elementary textbook simplification?... But, but... economics is a science! (snark)Econospeak"Opportunity Cost of Socialism" Sandwichman
Read More »Lars P. Syll — Blog Balanced budget religion
Paul Samuelson quote you may wish to keep on file if you don't already have it.Lars P. Syll’s BlogBalanced budget religionLars P. Syll | Professor, Malmo University
Read More »Noah Smith — Economists Lose Credibility When They’re Too Certain
They made this mistake by claiming free trade had no downsides. I wouldn't say it is just free trade. This is what happens when ideology trumps scientific rigor, and scientific credibility is used to push a political agenda. Economists appear to fall into this trap often enough to have destroyed their public credibility. It's another form off fake news. As Noah Smith points out, they know better, but do it anyway. Now they and we, are reaping the whirlwind of rabid populism as the...
Read More »Michael Roberts — The economics of Luther or Munzer?
History lesson. Trading one dogmatism for another?Michael Roberts BlogThe economics of Luther or Munzer?Michael Roberts
Read More »Erik Reinert — Towards a better understanding of convergence and divergence: or, how the present EU strategy – at the expense of the economic periphery – neglects the theories that once made Europe successful
This new working paper attempts to address some of the main problems of the European Union today. The main thesis is that the Weltanschauung and the economic narrative on which the European project has been based have changed radically since the inception of the European Project, from one conducive to convergence and cohesion to another which is conducive to divergence and, in the last instance – I shall argue – to a form of internal colonialism towards the economic periphery. The field of...
Read More »Jason Smith — Corporate taxes and unscientific economists
Another takedown. But let's take this result at face value. So now we have a largely model-independent finding that to first order the effect of corporate tax cuts is increased wages. The scientific thing to do is not to continue arguing about the model, but to in fact compare the result to data. What should we expect? We should a large change in aggregate wages when there are changes in corporate tax rates — in either direction. Therefore the corporate tax increases in the 1993 tax law...
Read More »Dániel Oláh — If You Look Behind Neoliberal Economists, You’ll Discover the Rich: How Economic Theories Serve Big Business
The road to serfdom – sponsored by big business. Some history of economics.Evonomics If You Look Behind Neoliberal Economists, You’ll Discover the Rich: How Economic Theories Serve Big BusinessDániel Oláh See also Naked CapitalismGaius Publius: Defining Neoliberalism
Read More »Frances Coppola — Beyond disappointment
Symptoms showing why both deconstruction and inclusion are necessary in economics to avoid cognitive sclerosis.Coppola CommentBeyond disappointment Frances Coppola
Read More »Brad DeLong — Where Does the Use of “Takers” as in “Makers and Takers” and “A Nation of Takers” Come From?
It appears to come from right-wing loon and goldbug Edmund Contoski: WCEG — The Equitablog Note to Self: Where Does the Use of "Takers" as in "Makers and Takers" and "A Nation of Takers" Come From? : It appears...Brad DeLong
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