AXECwiki
Onblog Archive_1
8
UE Quixotic Keynes exegesis. Comment on ‘Keynes on the Theory of the Rate of Interest.’
LPS Towards the true economic theory. Comment on ‘What we do in life echoes in eternity’. See * below.
LPS How the intelligent non-economist can refute every economist hands-down. Comment on ‘Dani Rodrik’s blind spot.’ See * below.
RWER It is shrinking debt which eventually explodes the market economy. Comment on David R. Richardson on ‘What does “too much government debt” mean in a stock-flow consistent model?' Plus The brain-dead blunder with profit. Plus Urgent: your methodological check-up. Plus Model bricolage.
RWER Nothing to choose. Comment on ‘Dani Rodrik’s smorgasbord view of economic models.’
LPS Useful idiots and poor scientists. Comment on Fred Welfare on ‘Dani Rodrik’s smorgasbord view of economic models.’
PRI Monetary policy: no sound theoretical foundation. Comment on Ann Pettifor on ‘Central bank policy rates and the real economy.’ See * below.
RWER History and the identity problem of economics. Comment on ‘History and Economics'.
LPS Neither impressive nor hopeful. Comment on Lars Syll of Dec 6 on ‘The model of all economic models’. See * below.
SuM Methodological kindergarten. Comment on Nanikore of Dec 9 on ‘Using models.’
RWER Wages and profits are not the components of income. Comment on ‘Wages, profits, and inequality.’
RWER How economists became the scientific laughing stock. Comment on ‘The blatant absence of empirical fit of macroeconomic models.
RWER A historical misunderstanding. Comment on ‘Expanding heterodoxy in economic analysis.’
RWER Scientific cave men with a daunting message. Comment on ‘The model of all economic models.’ Plus Science and storytelling. Plus Addendum exploding Orthodoxyy.
LPS The ur-blunder of economics and its rectification. Comment on ‘The model of all economic models.’
RWER Swedish muddle. Comment on ‘Sweden debates the economics prize.’ Plus Six reasons.
LPS One entirely sufficient reason for the shutdown of economics. Comment on ‘Three symptoms of the sorry state of economics.’
RWER Economics is a scientific zombie waiting to be put down. Comment on ‘Tower of Babel.'
UE The Fisher Effect — a specimen of scientific incompetence. Comment on ‘Once Upon a Time When Keynes Endorsed the Fisher Effect.’ Plus Defects of the monetary order. Plus Abstraction. Plus Silly games. PlusProfit and loss. Plus Beyond the Fisher equation.
LPS The tragedy of Heterodoxy. Comment on ‘Confusing statistics and research.’
RWER Political economics and intellectual corruption.
Comment on ‘Econometrics and the 'empirical turn' in economics.’
LPS Political economics and intellectual corruption. Comment on ‘Econometrics and the 'empirical turn' in economics.’
LPS Increasing returns and the art of self-trapping. Comment on ‘Economic growth.’ Plus Dead and buried. Plus Still behind the curve.
RWER Poets are always wrong.
RWER Profit and the collective failure of economists. Comment on ‘Accumulate, accumulate! Or not.’
UE Black Hole economics. Comment on ‘Thompson’s Reformulation of Macroeconomic Theory, Part V: A Neoclassical Black Hole.’ Plus Employment.
RWER The utter senselessness of political economics.
Comment on ‘Disbelief as Belief.’
RWER Heterodoxy as superior alternative. Comment on ‘Deductivist modeling leading economics astray.’ Plus Fallacies.
UE How economic thinkers think they think about interest. Comment on ‘Thinking about Interest and Irving Fisher.’ Plus Complementary time preferences and interest.
RWER The substandard standards of distribution theory. Comment on ‘Beyond the standard explanation.’ Plus Laws. Plus Behavior and law.
LPS Heterodoxy as superior alternative. Comment on ‘Deductivist modeling leading economics astray.’ See * below. Plus Uncertainty.
LPS A new fall back into old thinking. Comment on ‘Methodological foundations of heterodox economics.’ See * below.
RWER Do not moralize — simply beat them. Comment on ‘Mainstream economics — nothing but pseudo-scientific cheating.’ Plus Correct approach.
RWER Pseudo-voodoo-moron-proto-mumbonomics.
Comment on Peter Radford on ‘Republican Pseudo-Economics.’
RWER Prediction does not work? Try retrodiction first.Comment on Lars Syll on ‘Macroeconomic forecasting’
LPS Do not moralize — simply beat them. Comment on ‘Mainstream economics — nothing but pseudo-scientific cheating.’ See * below.
RWER Profit and the poverty of economics. Comment on ‘Neoclassical distribution theory.’ See * below.
LPS Profit and the poverty of economics. Comment on ‘Neoclassical distribution theory.’ See * below.
EV ICYMI Krugman's sycho-sociological agenda pushing.
LPS Habermas, Albert, Robinson, Syll are right — now scrap the crap. Comment on ‘Some unfounded expectations of economic theory.’ Plus There is no like/dislike button in science.
RWER Distribution, profit, income and other embarrassments. Comment on ‘Unequal distributions of income.’ Plus No choice. See * below.
RWER No trade-off, Kant said. Comment on ‘The most devastatingly important trade-off in mainstream economics.’
UE Debunking the natural rate of interest. Comment on ‘The Well-Defined, but Nearly Useless, Natural Rate of Interest.’ Plus The irreparable unreality of all ‘real’ models.
EVO The x-th reinvention of evolutionary economics.
RWER Redefining economics. Comment on Lars Syll on ‘Probability and economics.’
RWER Objective determinants of profit and interest.Comment on ‘Interest Rates’.
RWER Coming to terms with formalization. Comment on ‘Limits of formalization in economics.’
Back to Onblog
7
LPS ICYMI Out of the time warp.
UE Are economists methodological retards? Comment on Henry Nov 4 on ‘Keynes on the Theory of Interest.’
RWER A new more Keynesian employment theory. Comment on Lars Syll on ‘Larry Summers — ‘New Keynesian’ economics needs to be replaced.’ Plus Replacement.
EVO Hayek: mad, bad, or just another incompetent economist? Comment on David S. Wilson on ‘The Road to Ideology. How Friedrich Hayek Became a Monster.’
RWER Pointer Interest rate. See * below.
LPS ICYMI New Keynesian economics needs to be replaced.
LPS Scrap the lot. Comment on 'Empirical macroeconomics — a scientific illusion.'
LPS The key relationship between employment and wage rate. Comment on ‘Wage cuts — the ultimate atomistic fallacy.’ See * below.
RWER Free the academy from economics. Comment on David Ruccio on ‘Academic unfreedom in economics.’
LPS Getting out of mumbonomics. Comment on ‘Postmodern discourse mumbo jumbo.’
RWER The key relationship between employment and growing/shrinking debt. Comment on Steve Keen on ‘The unnatural rate of interest.’ See * below.
LPS Stop knowing nothing, start knowing something.
Comment on Lars Syll on ‘Macroeconomic uncertainty. Plus Core-thinking.
RWER Stop knowing nothing, start knowing something.Comment on Lars Syll on ‘Macroeconomic uncertainty. See * below.
RFEW Fundamentally flawed. Comment on Roger Farmer on ‘Demand Creates its Own Supply.’ Plus I=S: Mark of the Incompetent.
RWER Moronomics. Answer to Paul Schächterle on ‘Economics, concepts, language and the progress of science.’
LPS Is Keynes acceptable? Comment on Lars Syll on ‘Did Keynes ‘accept’ the IS-LM model?’ See * below.
UE Interest and profit. Comment on ‘Keynes on the Theory of Interest.’ Plus Accounting basics. Plus No hope. Plus Distributed profit. Plus Production economy. Plus Loss. Plus Formal proof. Plus Inventory investment. Plus
exante/expost. Plus Sad fate. Plus Profit and income. Plus Humpty Dumpty. Plus Shell game. Plus Allais. Plus Down and out. Plus Paradigm shift.
UE Keynes and the logical brilliance of Bedlam. Comment on ‘Keynes and Accounting Identities.’ Plus End of confusion. Plus Profit. Plus Embarassement. Plus Footnote. Plus Test. Plus Moronomics.
UE Economics in self-paralysis. Comment on ‘Representative Agents, Homunculi and Faith-Based Macroeconomics.’
EVScientifically incompetent. Comment on ‘In Search of the Science in Economics.’ Plus ICYMI. Plus The Science-of-Man fallacy. Plus ICYMI. Again ICYMI. See * below.
EV Time to make economics a science. Comment on ‘Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel Awarded to Angus Deaton.’
NEF The proto-scientific state of economics. Comment on ‘The fragile state of the world economy.’
EE How to be a good scientist. Comment on ‘How to be a good economist.’ Plus Time to make economics a science. Plus Knowledge only — no opinion.
CDC E-money. Comment and correction on ‘As Predicted BOE Head Economist and Time 100 Most Influential Suggests E-Dollar Concept.’ See * below.
BB How to start off at the right foot. Comment on Bill Mitchell on ‘When one false starting premise leads to progressive confusion.’
NEP Corbynomics ICYMI.
TMI The very real problem of zero scientific utility.Comment on ‘The very real problem of wage inequality.’ Plus ICYMI. Plus ICYMI. Plus The very real problem of the representative economist.
EV Like an ant on the Möbius strip. Comment on ‘The Fed Must Banish the 1970’s Inflation Devil.’
MOM Lack of understanding. Comment on ‘Revealed Preferences: Fed Inflation Target Edition.’
EV Confounding Is and Ought: the economist as moralist. Comment on ‘What Happened to the Moral Center of American Capitalism?’
EV Deflation? Uupps, price theory, too, is wrongComment on ‘Deflation and Money.’ Plus ICYMI.
EV Always clueless, never speechless. Comment on ‘U.S. Inflation Developments.’ Plus ICYMI.
MM Much change, no progress. Comment on ‘The day macroeconomics changed.’ Plus DSGE is just another perpetual motion machine.
TW Common non-sense. Comment on ‘On not understanding the quantity theory of money.’
EV It’s the wage-price-productivity mechanism, stupid! Comment on ‘The Fed Looks Set to Make a Dangerous Mistake.’ Plus ICYMI Plus ICYMI Peter K.
RWER ICYMI Incoherence.
RWER Not yet in and not yet out of the wood. Comment on Lars Syll on ‘Phelps’ smackdown on Lucas’ rational expectations.’
RWER Misled by ordinary intuition and common sense
Comment on Edward Fullbrook on ‘The Counterintuitive Problem.’
RWER Economics in self-paralysis. Comment on Lars Syll on ‘Representative agent models — macroeconomic foundations made of sand.’
RWER Misplaced augurs of doom. Comment on David Ruccio on ‘A gathering storm?’ Plus Crisis, cranks, and scientists.'
RWER The irrelevance of economics. Comment on ‘On the irrelevance of formal logic in economics.'
RWER The Science-of-Man fallacy. Comment on ‘Don’t throw away Angus Deaton with the bathwater of the Riksbank prize — he’s good!’ See * below.
RWER New thinking, new teaching. Comment on ‘Real world economists and the economics curriculum.’ See * below.
RWER Time to make economics a science. Comment on ‘Key member of Swedish Academy of Sciences calls for immediate suspension of the “Nobel Prize for Economics”’ See * below.
RWER Demarcation works, but it takes longer in economics. Comment on Asad Zaman on ‘The rise and fall of logical positivism.’ Plus Passionate belief is no substitute for knowledge.
6
RWER The Coppola method: Adam Smith reincarnated? Comment on ‘What is lending good for? The Frances Coppola view.’
RWER PsySoc -- the scourge of economics. Comment on ‘The fundamental truth about American economic growth.’
RWER Economics: ‘a tale Told by an idiot, full of sound and fury’? Comment on Dean Baker on ‘Biggest lesson from Financial Crisis: Wall Street gets what it wants.’
LPS The irrelevance of economics. Comment on ‘On the irrelevance of formal logic in economic.’ See * below.
LPS Time to make economics a science. Comment on ‘The Nobel prize in economics is a disgrace. Dump it!’
LPS Coming to terms with formalization. Comment on ‘Limits of formalization in economics.’ See * below.
LPS How Orthodoxy buffaloed Heterodoxy. Comment on ‘Deductivism — the original sin of ‘modern’ economics.’ Plus Clueless at the dead spot.
LPS Economics is an abysmal failure of reason. Comment on ‘What went wrong with economics?’ Plus Heterodoxy, too, is scientific junk.
LPS Beat me! An invitation nobody can refuse. Comment on Nanikore on ‘How economists argue.’
LPS Two steps towards truth. Comment on ‘Are all models wrong?’ See * below. Plus The happy end of the social science delusion. Plus ICYMI. See * below.
LPS At last, mathiness problem settled. Comment on ‘Economics — a rogue branch of applied mathematics.’
LPS The philosophy of know-nothingers. Comment on Tom Hickey on ‘What can economists know?’
LPS Schumpeter's two axioms of discourse. Comment on ‘Axiomatic economics — total horseshit.’ See * below.
LPS Trapped in false alternatives. Comment on ‘Validity is NOT enough.’
LPS An epic detour. Comment on ‘Has macroeconomics — really — progressed?’ See * below.
LPS Buridan’s ass economics. Comment on ‘Krugman is right — public debt is good!’ Plus ICYMI.
LPS No foundations. Comment on ‘Lucas’ caricature of economic science.’ Plus United in confusion.
LPS The moral of the story. Comment on ‘Robert Solow kicking Lucas and Sargent in the pants.’
LPS Secular intellectual stagnation. Comment on ‘Economics departments — breeding generation after generation of idiot savants.'
LPS Economics: the honeypot for know-nothings. Comment on ‘Kahneman on the Chicago school of libertarian economics.’
LPS Economics as scientific South Seas. Comment on ‘Reconstructing macroeconomics.’ See * below.
LPS Lucas’s humbug. Comment on ‘Macroeconomic ad hocery.’ Plus Freshwater, saltwater, scientific dishwater. See * below
LPS Here it comes: the sexit. Comment on ‘Paul Romer on unscientific freshwater groupishness.’ See * below.
LPS Yes, it's scientific junk, so leave it behind for good. Comment on ‘On the poverty of microfoundationalist fantasies.’
LPS Oh no! How could this happen? Comment on ‘IS-LM vs. Minsky.’
LPS What comes after debunking? Comment on ‘Why Real Business Cycle models can’t be taken seriously.’ See * below.
LPS How to consistently start off on the wrong foot. Comment on ‘The Keynes-Ramsey-Savage debate on probability.’ Plus We simply do not know — so let us move on. Plus Stubbornly in the wrong research program. Plus Appearances and evidence.
LPS How to save Greece and Europe at the same time. Comment on ‘Abandon the euro and save Europe!’ See * below.
LPS The case for pure economics. Comment on ‘Ignoring elementary economics.’ Plus Cartoon science. See * below.
LPS Extremely long roots. Comment on ‘Schäuble goes Matrix.’ See * below.
LPS Economics, Gödel, and a would-be field day for math-Luddites. Comment on ‘It’s all over — Gödel’s incompleteness theorems.’ Plus It's all over — but for whom? See * below.
LPS Flight of ideas and the dead end of all econtalk.
Comment on ‘Anti-Keynesianism — in most cases a sign of ignorance.’ See * below.
LPS Lost between pure fiction and parochial realism. Comment on ‘Why economic models constantly crash.’ See * below.
LPS McCloskey and the lizard's tail. Comment on ‘Silly economics.’ See * below.
LPS Warning: Einstein can be hazardous to heterodox methodology. Comment on ‘Econometrics — rhetorics and reality.’
LPS Hold the handle, not the blade. Comment on ‘Debunking the use of mathematics in economics.’
LPS Poisoned, hanged, and shot. Comment on ‘Austerity policies — prescribing rat poison for ailing economies.’ See also RWER
LPS Poor philosophy, poor science, poor job. Comment on 'Adam Smith’s visible hand.' See * below.
LPS Modern economics is dead. Comment on Mark Blaug's 'Modern economics is sick.' See * below.
LPS The science that never was. Comment on ‘Paul Romer on math masquerading as science.’
EV Sticky brains. Comment on ‘Evidence for Sticky Wages.’ Plus ICYMI
UM Economics and the litmus test of science. Comment on ‘Romer v. Lucas.’ Plus ICYMI See * below. Plus United in confusion. Plus Whatever it is, let's call it conservatism.
UM Disoriented and lost in folk psychology. Plus Quod erat demonstrandum.
MM Potemkonomics. Comment on ‘Reform and Revolution in Macroeconomics.’ Plus ICYMI
EV Which revolution? Comment on ‘Reform and Revolution in Macroeconomics.’
RWER Important decisions ahead. Comment on ‘Some Issues.’
RWER Back at Keynes's problem. Comment on ‘Euro area unemployment rate at 11.1% and EU at 9.6% in June 2015.’
RWER What comes after debunking? Comment on ‘Why Real Business Cycle models can’t be taken seriously.’
5
RWER Stop guessing, start thinking. Comment on ‘The guessing game.’
RWER Knowledge vs. belief. Comment on ‘The marginalisation of morality.’ See * below.
RWER The case for pure economics. Comment on ‘On the Euro Summit’s Statement on Greece: First thoughts.’
RWER How to save Greece and Europe at the same time. Comment on ‘Employment in selected Eurozone countries. No austerity or neoliberal miracles.’ See * below.
RWER Profit theory and distribution formulas. Comment on ‘Some important limitations of income inequality data.’ See * below.
RWER The economics of here and now. Comment on ‘An inconvenient historical truth.’
RWER No flip-flop. Comment on Trond Andresen on Euro — the antithesis of democracy. Plus The way ahead. Plus Separation of politics and economics. See * below.
RWER A lesson for Heterodoxy. Comment on ‘In Greece, NO is the answer.’ Plus True/false is different from good/bad. Plus Beware of the 9th circle. Plus Heterodoxy's big fat Greek error. Plus In science, NO is the answer.
RWER It's about institution-building, stupid. Comment on ‘Finance as Warfare.’
RWER From economics to politics to idiotism. Comment on ‘Breaking: ECB states that Euro is reversible and not irrevocable.’
RWER Keynesianism as ultimate profit machine. Comment on ‘Speculative Financial Attacks.’
RWER Ditto and the hazards of diprosopus. Comment on ‘War of finance.’
RWER The double crisis and the real question. Comment on ‘As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting’
RWER A lesson for Heterodoxy. Comment on ‘In Greece, NO is the answer.’ Plus True/false is different from good/bad. Plus Beware of the 9th circle. Plus Heterodoxy's big fat Greek error. Plus In science, NO is the answer.
RWER From economics to politics to idiotism. Comment on ‘Breaking: ECB states that Euro is reversible and not irrevocable.’
RWER Predictably confused.
Comment on ‘Sir David Hendry on the inadequacies of DSGE models.’
RWER Confounding sociology and economics. Comment on michael burke on ‘Marxism Revisited’.
RWER Two steps towards thruth. Comment on ‘Are all models wrong?’ Plus A question of principle(s).
RWER Bound to crash. Comment on Steve Keen on ‘Why China had to crash: Part 2.’
RWER How to minimize political confusion. Comment on Peter Radford on ‘Let’s all blame capitalism.’
RWER Back to science. Comment on ‘Unemployment – a long run.’
RWER Time to get rid of political economics. Comment on Peter Radford on ‘Libertarian Economics.’ Plus ICYMI.
RWER Nominal and real time transfer. Comment on Hazel Henderson on ‘What Americans need: An ‘idiot-proof’ retirement system.’
RWER Quick rethinking of the stock market. Comment on ‘Quick thoughts on the stock market and the economy.’ Plus The heterodox perspective becomes dominant. Plus Pygmy economics.
RWER No culpa, only stultia. Comment on Peter Radford on ‘Mea Culpa: Storytelling Part Two.’
RWER False on principle. Comment on ‘A critique of Samuelson’s and Nordhaus’s Principles of Economics.’
RWER Unsmart allocators. Comment on ‘General equilibrium theory — a gross misallocation of intellectual resources and time.’ Plus The Napoleon game.
RWER Hmmm? Comment on ‘Some Issues Re-visited.’ See * below.
RWER Potentially counter-productive. Comment on ‘Economics departments — breeding generation after generation of idiot savants.’ Plus How to stop idiot-breeding.
RWER Important decisions ahead. Comment on ‘Some Issues.’
RWER Back at Keynes's problem. Comment on ‘Euro area unemployment rate at 11.1% and EU at 9.6% in June 2015.’
RWER What comes after debunking? Comment on ‘Why Real Business Cycle models can’t be taken seriously.’
RWER Stop guessing, start thinking. Comment on ‘The guessing game.’
RWER Knowledge vs. belief. Comment on ‘The marginalisation of morality.’ See * below.
RWER The case for pure economics. Comment on ‘On the Euro Summit’s Statement on Greece: First thoughts.’
RWER How to save Greece and Europe at the same time. Comment on ‘Employment in selected Eurozone countries. No austerity or neoliberal miracles.’ See * below.
RWER Profit theory and distribution formulas. Comment on ‘Some important limitations of income inequality data.’ See * below.
RWER The economics of here and now. Comment on ‘An inconvenient historical truth.’
RWER No flip-flop. Comment on Trond Andresen on Euro — the antithesis of democracy. Plus The way ahead. Plus Separation of politics and economics. See * below.
RWER A lesson for Heterodoxy. Comment on ‘In Greece, NO is the answer.’ Plus True/false is different from good/bad. Plus Beware of the 9th circle. Plus Heterodoxy's big fat Greek error. Plus In science, NO is the answer.
RWER The double crisis and the real question. Comment on ‘As it happened – Yanis Varoufakis’ intervention during the 27th June 2015 Eurogroup Meeting.’
BDL Nine views are nine too much. Comment on ‘Forder: Nine View of the Phillips Curve.’
EG and BDL Sales talk vs. Science. Comment on Brad DeLong on ‘“We Always Thanked Robert Lucas for Giving Us a... Monopoly” Over Valuable Macroeconomics.’ See * below.
MM Either stupid or duplicious. Comment on ‘What is it with economists and accounting identities?’ Plus Stupid or duplicitous? Both!
EV No future for the representative economist. Comment on ‘The Future of Work: Why Wages Aren't Keeping Up.’
MM The subtle distinction between storytelling and science. Comment on Wren-Lewis's 'Saving equals Investment?' Plus: Keeping the focus on the basic issue. See * below.