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from Dean Baker Donald Trump put manufacturing jobs at the center of his economic platform in 2016. He endlessly harped on the loss of relatively good-paying manufacturing jobs. He blamed this job loss on “terrible” trade agreements and other countries “manipulating” the value of their currency to get an advantage in trade. He put China at the top of the list of bad actors, promising to declare them a currency manipulator on day one of his administration, which would directly lead to...

from Lars Syll If contributions made by statisticians to the understanding of causation are to be taken over with advantage in any specific field of inquiry, then what is crucial is that the right relationship should exist between statistical and subject-matter concerns … Where the ultimate aim of research is not prediction per se but rather causal explanation, an idea of causation that is expressed in terms of predictive power — as, for example, ‘Granger’ causation — is likely to be...

from Ken Zimmerman Most cultures in human history have failed. The consequences of cultural collapse are almost always catastrophic. Culture defines our existence and makes us who we are. Without culture we have no past and no future. As all the products of the people of a society–material and non-material, culture is a complement to society, interacting people living in the same territory who share a common culture. Impossible to have one without the other (unless you want to call...

from Ikonoclast Economics is not a science and it cannot be a science. It is an ideology. The policy applications of an ideology may be “science-informed”, or not, as the cases might be, but the discipline itself, economics of any ideological persuasion, is not a science. Economics properly considered is really political economy. The term “political economy” carries two connotations: one meaning “national economy” and the other literally meaning economics is always political. The attempt...

Marmara UniversityGöztepe KampüsüKüçük Çamlıca34718 Kadıköyİstanbul / TÜRKİYE 26 June 2019, Wednesday, Plenary session (09:45 – 12:00) Hun Joo Park (KDI School of Public Policy and Management): ‘Global Governance in the 21st Century’ Ziya Öniş (Department of International Relations, Koç University): ‘The Age of Hybridity: China, BRICS and Challenges of Global Governance in a Post-liberal International Order’ Stavros D. Mavroudeas (Panteion University of Social and...

from Lars Syll In Dani Rodrik’s Economics Rules it is argud that ‘the multiplicity of models is economics’ strength,’ and that a science that has a different model for everything is non-problematic, since economic models are cases that come with explicit user’s guides — teaching notes on how to apply them. That’s because they are transparent about their critical assumptions and behavioral mechanisms. Hmm … That really is at odds with yours truly’s experience from studying and teaching...

Our Mission “Just wander into any economics or finance conference and the anecdotal evidence is overwhelming — women and minorities are few and far between.” – Business Insider, September 13th, 2017 We are a network of economists that aim to promote inclusiveness in economics, both in terms of academic content and in its institutional structures. We are working to promote an economics field free of discrimination, including sexism, racism, and discrimination based on approach and...

from Neva Goodwin Ecology teaches that everything is connected to everything else. Economics teaches that the market is a – some say the – great connector. Its specialty is to connect demand (what people want) to supply (what people produce), via prices. There are, of course, known problems in the use of prices as a society’s key connector. For one thing, those with more money have more of what is sometimes called “effective demand”; they can send louder, more effective signals to...