Tag Archives: George Akerlof

So it was 1990 that the New Zealand central bank became the first in the world to impose an inflation target of 0-0.002.... EconospeakOrigin of the 2 Percent Inflation TargetJ. Barkley Rosser | Professor of Economics and Business Administration James Madison University

Another one on methodology.I, my view, Tim Harford is basically correct in thinking that the optimal methodological approach in economics, as in the social sciences, is to "let a hundred flowers bloom," to borrow a metaphor from Chairman Mao. But from the POV of the "hard" sciences, "soft science" is not "real" science. That is drawing lines arbitrarily. It basically says that the other "sciences" are not physics or chemistry. Well, doh. Anyway, the post is worth a read. It takes off from a...

Even Harvard waking up and smelling the coffee?Project SyndicateThe Moral Identity of Homo EconomicusRicardo Hausmann | Director of the Center for International Development at Harvard University and professor of economics at the Harvard Kennedy School, formerly minister of planning of Venezuela and former Chief Economist of the Inter-American Development Bank.