Tag Archives: economics profession

As an outsider, one can only revise down one's opinion of the academic standards of mainstream economists. We have an intellectual debate in which one side refuses to admit the existence of the debate in the first place. I am not an expert on the scientific method, but it seems to me that is not how it is supposed to work. Bond Economics  How Not To Defend DSGE Macro Brian Romanchuk

John Quiggin on Kartik Artheya's Big Ideas in Macroeconomics. Incidentally, it is often useful to ask, What's the big idea? Lars P. Syll’s BlogBig — and not so big — ideas in macroeconomicsLars P. Syll | Professor, Malmo University

… as the authors of the new report from the United Nations Conference on Trade and Development have explained, there is a growing concern that increasing market concentration in leading sectors of the global economy and the growing market and lobbying powers of dominant corporations are creating a new form of global rentier capitalism to the detriment of balanced and inclusive growth for the many. And they’re not just talking about financial rentier incomes, which has been the focus of...

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

Just about any one of them is fatal.Fresh Economic Thinking Decent criticisms of economics? Here are 111 of them. Cameron K. Murray

During my recent hiatus from blogging, I have been pondering an important paper presented in June at the History of Economics Society meeting in Toronto, “The Standard Narrative on History of Macroeconomics: Central Banks and DSGE Models” by Francesco Sergi of the University of Bristol, which was selected by the History of Economics Society as the best conference paper by a young scholar in 2017....  Sergi’s paper is too long and too rich in content to easily summarize in this post, so...

One of the features of mainstream economics today is the huge diversity of models that are around. Academic prestige tends to come to those who add to that number. But how do you decide which model to use when investigating a particular problem? The answer is by looking at evidence about applicability. That is not a trivial task because of the probabilistic and diverse nature of economic evidence, and Dani Rodrik describes that process as more of a craft than a science.... Mainly...

Explanation of why expected utility theory is "an ex-hyoptheis."  Actually, there is a lot more wrong with it such hypotheses used as assumptions in the construction of homo economicus, and the exportation of homo economicus from theory to practical use. Homo economicus is a theoretical construct used to simplify the complexities of human behavior for use in an economic model. But human behavior is not limited to economics other than in quite specialized cases, where it is reasonable...

from Julie Nelson Yes, economics has a problem with women. In the news recently we’ve heard about the study of the Economics Job Market Rumors (EJMR) on-line forum. Student researcher Alice H. Wu found that posts about women were far more likely to contain words about their personal and physical issues (including “hot,” “lesbian,” “cute,” and “raped” ) than posts about men, which tended to focus more on academic and professional topics. As a woman who has been in the profession for over...

Wassily Leontief quote from "Theoretical Assumptions and Nonobserved Facts." Lars P. Syll’s BlogMainstream economics — like butter scraped over too much breadLars P. Syll | Professor, Malmo University