Tag Archives: Simon

Cat fight.Mainly MacroMMT and Labour’s fiscal ruleSimon Wren-Lewis | Emeritus Professor of Economics, Oxford University

I've been trying to read this. Not a huge fan of the field of behavioral economics (or here; subscription required). Don't get me wrong, yes, it provides some critiques of elements of the mainstream (marginalist) approach, regarding essentially the notion of individual rationality, as did the work of, say, Herbert Simon, in the past. People don't tend to act in a rational way, at least not in the substantive way that is prescribed by the mainstream.Evidence on the notion of universal...