A thousand kisses deep .[embedded content]

To flog a dead horse. Unfortunately, the horse is still alive and well in academia and central banks.The unsellability of DSGE models — private-sector firms do not pay lots of money to use DSGE models — is one strong argument against DSGE.But it is not the most damning critique of it.Lars P. Syll’s BlogWhy DSGE models are worse than uselessLars P. Syll | Professor, Malmo University

Intelligent Economist, Top 100 Economics Blogs of 2023, Prateek Agarwal Just a heads up . . . Angry Bear makes the list again in 2023. You will also find Econospeak, Naked Capitalism, One-Handed Economist, CEPR, Calculated Risk, Bonddad blog (New Deal democrat), Capital Ebbs and Flows are listed also. If I missed anyone, it is not on purpose. We are in good company thanks to Dan Crawford. And we have good writers who touch upon many topics....

It’s Wednesday and apart from music I am talking mostly about poverty – opposites indeed. The beauty of the beat against the ugliness of enforced poverty. Enforced by government policy, which if there is political will can always eliminate systemic poverty. Yesterday (April 18, 2023), a major report was released in Australia by the grand-titled Economic Inclusion Advisory Committee – 2023–24 Report to the Australian Government. It provided a series of recommendations to the new Labor...

 This passage demonstrates that Murphy understands the accounting side of “MMT operations analysis” — not a big ask for a part time professor of accounting — but does not grasp economic theory nor its context. If literally everyone who has studied economic theory and is sympathetic to MMT states that the Job Guarantee is a core part of MMT and you do not understand them, the correct response is to reduce your ignorance, and not write a primer on MMT.Brian saved me the trouble writing this....

The 90/10 rule of motivations by Davis Zetland Since 2009, I have talked about a 20/80 rule of motivations, e.g., “My rule of thumb is that about 20 percent of people conserve [water] because it’s the right thing to do, and 80 percent conserve because it’s expensive NOT to [because prices are high].” My point is that far more people (80%) are motivated by price (extrinsic incentives) than doing the right thing (intrinsic incentives)....

Don't be fooled KNOWLEDGE is more valuable

Since I pulled this article from Everytown, here is a bit of information about it. “We are the largest gun violence prevention organization in America. Made up of more than six million mayors, moms, teachers, survivors, gun owners, students, and everyday Americans who have come together to make their communities safer.” I am guessing there is a bend towards women in this organization. Not an issue. Tons of information on gun violence is within its...

Why DSGE models are worse than useless The unsellability of DSGE models — private-sector firms do not pay lots of money to use DSGE models — is one strong argument against DSGE. But it is not the most damning critique of it. The most damning critiques that can be levelled against DSGE models are the following two: (1) DSGE models are unable to explain involuntary unemployment In the basic DSGE models the labour market is always cleared – responding to a...

How QE stimulate economy