Don't be fooled KNOWLEDGE is more valuable

The 20 Best Econometrics Blogs and Websites Yours truly, of course, feels truly honoured to find himself on the list of the world’s 20 Best Econometrics Blogs and Websites. 2. Bruno Rodrigues 7. Eran Raviv Blog Statistics and Econometrics 9. How the (Econometric) Sausage is Made 14. Lars P Syll Pålsson Syll received a PhD in economic history in 1991 and a PhD in economics in 1997, both at Lund University. He became an associate professor in economic history...

Machinery Fails to Boost Productivity!

from Dean Baker Robert Reich posted a table that tells us a huge amount about the U.S. economy. CEO pay of the largest carmakers in the world Honda: $2.3M Nissan $4.5M Toyota: $6.7M BMW: $5.6M Mercedes: $7.5M Porsche: $7.9M Ford: $21M Stellantis: $25M GM: $29M The reason this table is so informative is that the performance of these foreign automakers would certainly stand up well in comparison to the U.S. Big Three. (In fairness, Stellantis is largely a European company, headquartered in...

You know that Hungarian woman who shared this year’s Nobel in Physiology or Medicine? She struggled to get and keep an academic career. Eventually, she was pushed out of her lab at Penn.“That morning at the lab, Karikó’s old boss had come to see her off. She did not tell him what a terrible mistake he was making in letting her leave. She didn’t gloat about her future at BioNTech, a pharmaceuticals firm that millions now associate with lifesaving...

Horace Engdahls nya försvarstal En fiktiv dialog med en skotsk 1700-talsfilosof på spårvagnen genom Göteborg – det låter som en usel idé. Rentav pinsam. Men har man Horace Engdahls bildning, stil och värdighet kan man uppenbarligen förvandla ett sådant upplägg till en bladvändare. Värdigheten, förresten. Den är fortfarande sårad efter metoo-skandalen vid Svenska Akademien, där Engdahl försvarade sin vän Jean-Claude Arnaults rätt att leva ”vivörliv”. Efter...

[embedded content]Jeremy Rudd addresses the Cambridge Society for Economic Pluralism Jeremy Rudd has written: Mainstream economics is replete with ideas that 'everyone knows' to be true, but that are actually arrant nonsense. For example, 'everyone knows' that: aggregate production functions (and aggregate measures of the capital stock) provide a good way to characterize the economy's supply side; over a sufficiently long span - specifically, one that allows necessary price...

At night, I will soak a third of a cup of rolled oats, oat bran, raisins, almonds, a bunch of seeds, etc. in skim milk. Toss some crumbled walnuts in there to go along with the almonds and hazel nuts and blue berries or other fruit if I have it. The oats soak up the milk which makes them edible. Kind of a sweet taste. Maybe there is more natural food in terms of what it is? It seems to work for me. Stay away from high sodium content. The soups are...

The current state of game theory Back in 1991, when yours truly earned his first PhD​ with a dissertation on decision making and rationality in social choice theory and game theory, I concluded that “repeatedly it seems as though mathematical tractability and elegance — rather than realism and relevance — have been the most applied guidelines for the behavioural assumptions being made. On a political and social level, ​it is doubtful if the methodological...

It’s a movie we’ve seen over and over again in US politics. Centrists engage in respectful discussion with a thoughtful conservative[1], only to discover they are actually talking to a dishonest troll. Yet, just like Charlie Brown lining up to kick Lucy’s football, they keep coming back for another try. Examples include Paul “policy wonk” Ryan, JD “voice of the heartland” Vance, and most recently Richard Hanania, for whom I can’t come up with a suitable nickname. Hanania’s public...