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from Lars Syll Thirty years ago yours truly wrote an article on revealed preference theory that got published in History of Political Economy (no. 25, 1993). Paul Samuelson wrote a kind letter and informed me that he was the one who had recommended it for publication. But although he liked it a lot, he also wrote a comment — published in the same volume of HOPE — saying: Between 1938 and 1947, and since then as Pålsson Syll points out, I have been scrupulously careful not to claim for...

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from Jesper Jespersen Personal recollection How I met Vicky I was on a one year sabbatical leave at Cambridge University, King’s College by invitation of Professor Wynne Godley in the year 1988/89. Seriously speaking I was surprised, because except for Godley there were only few economists left at the Faculty, who called him-/herself Keynesian. The old guard of Keynes’ disciples had disappeared: Joan Robinson and Nicholas Kaldor were no longer alive; Richard Kahn very fragile....

from Dean Baker We should be able to work together for the benefit of humanity. John Kerry got the start to his political career when he testified to Congress about the Vietnam War as an anti-war veteran, and asked, “How do you ask a man to be the last man to die for a mistake?” The point, of course, was that we were still sending soldiers to Vietnam to fight and risk dying in a war that was widely recognized to be pointless. Rather than just owning up to the mistake, we continued the...

from Norbert Häring India’s central bank will withdraw the largest banknote from circulation. The then largest note is only worth about as much as the smallest in the euro area. The move is intended to force people to use electronic money instead of cash. With this, they can be better monitored and controlled and the financial and IT industries get their percentages and data with every purchase. India, as a favorite guinea pig of the global cash abolitionists, often provides the blueprint...

from Lars Syll Little in the discipline has changed in the wake of the crisis. Mirowski thinks that this is at least in part a result of the impotence of the loyal opposition — those economists such as Joseph Stiglitz or Paul Krugman who attempt to oppose the more viciously neoliberal articulations of economic theory from within the camp of neoclassical economics. Though Krugman and Stiglitz have attacked concepts like the efficient markets hypothesis … Mirowski argues that their attempt...

Since the beginning of this millennium, I’ve been writing critiques of the “generation game”, the idea that people can be divided into well-defined groups (Boomers, Millennials and so on), with specific characteristics based on their year of birth. As I said in my first go at this issue, back in 2000 (reproduced here ) Much of what passes for discussion about the merits or otherwise of particular generations is little more than a repetition of unchanging formulas about different...

from Duncan Austin While Adam Smith’s Invisible Hand has many beneficial attributes, somewhere along the way the Invisible Hand was recast as the Infallible Hand, seeding today’s widespread faith that markets can solve large-scale social and ecological problems they are ill matched for. In the formidable shadow of the Infallible Hand, non-market solutions – policy, regulatory, cultural, behavioural – are often deemed ‘impractical’, so remain under-utilized. ‘Green growth’, ‘sustainable...

Tax Deal Open Thread Theater, Angry Bear, angry bear blog Open Threads can be done weekly if needed. Don’t clutter up posts. I am not the cleaning lady for off topic comments. Every Star Trek Ship For Captain Data After Picard Season 3, screenrant.com. Intriguing series or movie. Data as a Star Ship captain. Especially now with the advent of AI computer beings. ...

I wrote this piece for the Committee for the Economic Development of Australia following a presentation I gave along with other researchers and members of Four Day Week Global. (Video here). A version was published by Independent Australia, under the title A long weekend every week? It’s time. More than 150 years ago, workers in New Zealand, closely followed by Australia, were the first in the world to secure an eight-hour working day. And 75 years ago, we achieved that great boon,...