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Onblog Archive_3

Blog-References  15                                                                 

 

MNE  NAIRU and economists’ lethal swampiness. Comment on David Glasner on ‘Richard Lipsey and the Phillips Curve Redux’.

 

UE  NAIRU and economists’ lethal swampiness. Comment on David Glasner on ‘Richard Lipsey and the Phillips Curve Redux’. See * below.

 

INET  Schizonomics. Comment on Antonella Palumbo on ‘Can “It” Happen Again? Defining the Battlefield for a Theoretical Revolution in Economics’. See * below.

 

RWER  Leaving Lucas behind for good. Comment on Lars Syll on ‘Robert Lucas — an example of macroeconomic quackery’.

 

RWER  NAIRU and the scientific incompetence of Orthodoxy and Heterodoxy. Comment on Lars Syll on ‘Simon Wren-Lewis — flimflam defender of economic orthodoxy’. See * below.

 

MNE  There is NO such thing as a NAIRU-Phillips curve. Note on Jason Smith — NAIRU and other connections between inflation and employment. Plus 

The economic equivalent to Galileo’s Law of Fall. Note on Tom Hickey . Plus  Incompetence is the simple reason for failure. Note on Auburn Parks. Plus

Lost in a side issue. Note on  Ralph Musgrave. Plus

Economics is a system science. Note on Auburn Parks. Plus  NAIRU is fake science. Plus   Time to make economics a science.  Plus  Economists do not solve social problems but cause them.

 

UE  Modern macro moronism. Comment on David Glasner on ‘Roger Farmer’s Prosperity for All’. See * below.

 

MNE  NAIRU and the scientific incompetence of Orthodoxy and Heterodoxy. Comment on Simon Wren-Lewis on ‘The NAIRU: a response to critics’ and Lars Syll on ‘Simon Wren-Lewis — flimflam defender of economic orthodoxy’.

 

MM  NAIRU and the scientific incompetence of Orthodoxy and Heterodoxy. Comment on Simon Wren-Lewis on ‘The NAIRU: a response to critics’ and Lars Syll on ‘Simon Wren-Lewis — flimflam defender of economic orthodoxy’. Plus  For the final word on NAIRU. Note on Anonymous.

 

LPS  NAIRU and the scientific incompetence of Orthodoxy and Heterodoxy. Comment on Simon Wren-Lewis on ‘The NAIRU: a response to critics’ and Lars Syll on ‘Simon Wren-Lewis — flimflam defender of economic orthodoxy’.  See * below.

 

RWER  Pants kicking is over, let’s do serious economics now. Comment on Lars Syll on ‘Solow kicking Lucas and Sargent in the pants’.  See * below.

 

LPS  Pants kicking is over, let’s do serious economics now. Comment on Lars Syll on ‘Solow kicking Lucas and Sargent in the pants’. See * below.

 

LPS  The methodological blunders of fake scientists.

Comment on Lars Syll and Alan Musgrave on ‘The logical fallacy that good science builds on’. See * below.

 

MNE  Because MMT formally depends on Keynesian macrofoundations it is false, too. Note on Billy Mitchell. And BB   See * below.

 

LPS  ‘Unemployment is high because economics is false. Note on Lars Syll. See * below.

 

EV  NAIRU: an exhaustive dancing-angels-on-a-pinpoint blather. Comment on Simon Wren-Lewis on ‘NAIRU bashing’. Plus  Answer to Blissex: A lot of scientific homework to do. See * below.

 

MM  NAIRU: an exhaustive dancing-angels-on-a-pinpoint blather. Comment on Simon Wren-Lewis on ‘NAIRU bashing’.  Plus  All depends on relative rates of change. Plus Theory comes before policy.

 

EV  Walras, Keynes, Samuelson, DSGE, IS-LM ― R.I.P. Comment on Roger Farmer on ‘Let’s All Be Keynesians Now’ and on ‘Animal Spirits in a Monetary Model’.  See * below.

 

RFEW  Walras, Keynes, Samuelson, DSGE, IS-LM ― R.I.P. Comment on Roger Farmer on ‘Let’s All Be Keynesians Now’ and on ‘Animal Spirits in a Monetary Model’.  See * below.

 

MNE Economics, Plato’s Cave and the Silver Blaze Case. Comment on Sandwichman on ‘All News is "Fake News" (always has been)’

 

MNE  NAIRU does not exist because equilibrium does not exist. Comment on Brian Romanchuk on ‘NAIRU Should Be Bashed, Smashed, And Trashed’. Plus

Right policy depends on true theory. Plus  Science is about invariances.  Plus  The relationship is between NAIRU and I=S.  Plus ICYMI  NAIRU: an exhaustive dancing-angels-on-a-pinpoint blather. Comment on Simon Wren-Lewis on ‘NAIRU bashing’.  Plus  

Comment on Blissex. Plus Comment on Wren-Lewis.

 

LPS  NAIRU does not exist because equilibrium does not exist. Comment on Lars Syll on ‘Debunking the NAIRU myth’. See * below.

 

EV  Why you should NEVER use supply-demand-equilibrium. Comment on Peter Dorman on ‘Why You Should Never Use a Supply and Demand Diagram for Labor Markets’. See * below.

 

ES  Why you should NEVER use supply-demand-equilibrium. Comment on Peter Dorman on ‘Why You Should Never Use a Supply and Demand Diagram for Labor Markets’. Plus   The methodologically correct way to model markets.  Plus The labor market is different from the Brooklyn milk market.

 

LPS  If it isn’t macro-axiomatized, it isn’t economics.

Comment on Lars Syll on ‘Modern macroeconomics — too much micro and not enough macro’. See * below.

 

RWER  Economists and the destructive power of stupidity. Comment on Peter Radford on ‘Economics is a waste of time’. See * below.

 

MNE   Jason Smith has already been refuted. Note on 'Qualitative economics done right, part 2a.'

 

LPS  Economics is a science? You must be joking!

Comment on Lars Syll on ‘Dani Rodrik a heterodox economist? You must be joking!’. See * below.

 

MNE  Economics is a science? You must be joking!

Comment on Lars Syll on ‘Dani Rodrik a heterodox economist? You must be joking!’. Plus  Don't wreck your brain, Ralph Musgrave.

 

MNE Critique of EconoPhysics. Note on  Jason Smith — Classical Econophysics.

 

LPS  Windmill economics. Comment on Lars Syll on ‘Why governments should run deficits’. See * below.

 

MNE  Windmill economics. Comment on Lars Syll on ‘Why governments should run deficits’. Plus  The most serious and crippling deficiency of contemporary economic science.  Plus  Replacing MMT analysis. Plus The profit-loss mechanism.

 

EV  New IS-LM macro ― just another fake revolution.

Comment on Larry Christiano on ‘The Great Recession: A Macroeconomic Earthquake’. See * below.

 

MNE  Nobody needs to be confused about the different schools of thought in economics. Note on The Minskys.

 

The key to macro and Keen's debt-employment model. MNE  and ITE Like Walrasian, Keynesian, Marxian, Austrian models, Steve Keen’s model is provable false. Note on Jason Smith on 'Qualitative economics done right'.  Plus  ITE  and MNE The elementary core of foundational macro propositions, a.k.a. axioms. Plus MNE  How to solve the starting problem? Plus ITE Time for the econometricans now. Plus MNE Science does NOT predict the future.  MNE

The future is unpredictable (Feynman). Plus ITE The Leverrier challenge. Plus ITE  Jason Smith's cargo cult science. Plus ITE  Brainless cargo cult economics. Plus ITE Test the systemic employment equation! Plus ITE Formal logic and empirical content. Plus ITE   Do the experimentum crucis. See * below. Plus MNE Do the experimentum crucis.

 

LPS  Why not simply throw all economists under the bus? Comment on Lars Syll on ‘Why not make macroeconomics a science? See * below.

 

MNE There is NO such thing as an economic expert. Note on Nassim Taleb on 'There's A Global Riot Against Pseudo-Experts. This Is Not About Fascism.'

 

MNE  Both, orthodox AND heterodox economics is scientific junk. Note on Bill Black on 'The “Motley Crew” of Heterodox Economists Freaking Out France’s Theoclassical Economists'.

 

INET  Economics, methodology, morals ― a creepy freak-show. Comment on Sheila Dow on ‘People Have Had Enough of Experts’. See * below.

 

BB  Rectification and generalization of  MMT. Comment on Bill Mitchell on ‘That “old fashioned” MMT predicts well ― Groupthink in action’. See * below.

 

MNE  Rectification and generalization of  MMT. Comment on Bill Mitchell on ‘That “old fashioned” MMT predicts well ― Groupthink in action’.

 

EVO  New economic thinking, or, let’s put lipstick on the dead pig. Comment on Eric Beinhocker on ‘It’s Time for New Economic Thinking Based on the Best Science Available, Not Ideology’. See * below.

 

MNE  Economists and their silly excuses. Comment on Lars Syll on ‘RBC models — nonsense on stilts’.

 

EV  Paul the Menace. Comment on Paul Krugman on ‘Donald the Menace’.  See * below.

 

LPS  Economists and the destructive power of stupidity. Comment on Lars Syll on ‘Krugman and Stiglitz — nothing but neoliberal alibis’. See * below.

 

MNE  Why Bernie Sanders is unintentionally a godsend for the one-percenters. Comment on Steven Hall on ‘Explainer: what is modern monetary theory?’.

Plus  The worst blunder of all of economics.

 

TC  Why Bernie Sanders is unintentionally a godsend for the one-percenters. Comment on Steven Hall on ‘Explainer: what is modern monetary theory?’. See * below.

 

RWER  Going beyond Wicksell, Keynes and MMT.

Comment on Lars Syll on ‘The origins of MMT’.  See * below.

 

MNE  Going beyond Wicksell, Keynes and MMT. Comment on Lars Syll on ‘The origins of MMT’. Plus

Political soap box blathering.  Plus  No future for MMT. Plus  Throw out the cranks.

 

LPS  Going beyond Wicksell, Keynes and MMT. Comment on Lars Syll on ‘The origins of MMT’.  See * below.

 

EV  Macroeconomics without Keynes. Comment on Roger Farmer on ‘Keynesian Economics Without the Consumption Function’. See * below.

 

RFEW  Macroeconomics without Keynes. Comment on Roger Farmer on ‘Keynesian Economics Without the Consumption Function’. See * below.

 

LPS  Friedman and the cluelessness of fake scientists.

Comment on Lars Syll on ‘Milton Friedman’s pet theory finally shown to be wrong’.

 

RWE  Profit and price ― solving the mystery. 

Comment on David Ruccio on ‘Profit inflation’. See * below.

 

RWER  Economism, vulgar economics, and the curse of goofy critics. Comment on David Ruccio on ‘Economism — or vulgar economics’.  See * below.

 

EV  How the 99 percent can bring overall profit of the 1 percent legally down to zero in 2017. Comment on Lane Kenworthy on ‘Why the Surge in Income Inequality?’. See * below.

 

EVO  The futile synthesis of neoclassical rubbish and Keynesian garbage. Comment on Roger Farmer on ‘Keynes betrayed’. See * below.

 

RWER  Traditional Heterodoxy’s paradigmatic impotence. Comment on Editor on ‘The static analysis of the supply and demand model’.

 

MNE  The real trouble with Econ 101. Comment on James Kwak on ‘What’s Wrong With Econ 101’. See * below.

 

MNE  Economists: Incompetent? Stupid? Corrupt?

Comment on Michael Norman on ‘Stephanie Kelton BLOCKED ME on Twitter. Wow.’ Plus Opinion counts for nothing. Plus  How to get things off the ground.

 

MNE  Three sickening facts about Keynesianism.

Comment on Lars Syll on ‘The inequality gap — five sickening facts’.

 

LPS Three sickening facts about Keynesianism. Comment on Lars Syll on ‘The inequality gap — five sickening facts’. See * below.

 

RWER  Three sickening facts about Keynesianism. Comment on Lars Syll on ‘The inequality gap — five sickening facts’. See * below.

 

MNE  How the 99 percent can bring overall profit of the 1 percent legally down to zero in 2017. Comment on Lars Syll on ‘The inequality gap — five sickening facts’.

 

EV  Delusions of useful idiots. Comment on Simon Wren-Lewis on ‘Attacking economics is a diversionary tactic’.  See * below.

 

ES  Gossip economics. Comment on Barkley Rosser on ‘The Worst Human Being Ever Elected President Of The USA’. See * below.  Plus  Worst Human Beings. Plus   Keep political and theoretical economics apart.

 

MM  Delusions of useful idiots. Comment on Simon Wren-Lewis on ‘Attacking economics is a diversionary tactic’.

 

WCI  Macro poultry entrails reading. Comment on Nick Rowe on ‘AD/AS: a suggested interpretation’.

 

RWER  Mass unemployment: The joint failure of orthodox and heterodox economics. Comment on Asad Zaman on ‘Theory of Employment’. See * below.

 

MN Comment on ‘Mnuchin wants Debt Ceiling to be Raised’. Reply to Matt Franko.

 

RWER  How the 99 percent can bring overall profit of the 1 percent legally down to zero in 2017. Comment on David Ruccio on ‘Mind the growing gap’. See * below.

 

EV  Economics ― worse than fake. Comment on Simon Wren-Lewis on ‘Fake Economics and the media’.  See * below.

 

MM  Economics ― worse than fake. Comment on Simon Wren-Lewis on ‘Fake Economics and the media’. Plus Leaving the swamp of political economics.

 

RWER  Economists’s real job problem. Comment on Peter Radford on ‘Trump and Economics’. See * below.

 

RWER  Ideology? Incompetence? Fake? Or all this together? Comment on Asad Zaman on ‘Ideological Macroeconomics & Increasing Inequality’. See * below.

 

NOP  Strange noise in the graveyard of economics. 

Comment on Noah Smith on ‘Cracks in the anti-behavioral dam?’.

 

LPS  Economics: Poor philosophy, poor psychology, poor science. Comment on Tom Hickey on ‘A philosophical look at economics’. See * below.

 

MNE  The political corruption of economics.

Comment on The Economist on ‘To be relevant, economists need to take politics into account’.

 

EV  Economics is indefensible. Comment on Chris Dillow on ‘On defences and attacks on economics’. See * below.

 

SaM  Economics is indefensible. Comment on Chris Dillow on ‘On defences and attacks on economics’. See * below.

 

RWER  Failed economics: The losers’ long list of lame excuses. Comment on Lars Syll on ‘Relevance is not irrelevant’.  See * below.

 

MNE  Unemployment is high because economics is false: period, full stop, end of story. Comment on Peter Dorman on ‘Minimum Wages and Productivity’. See * below.

 

ES  Unemployment is high because economics is false: period, full stop, end of story. Comment on Peter Dorman on ‘Minimum Wages and Productivity’. See * below.

 

EV  The united tribe of the scientifically incompetent.

Comment on Noah Smith on ‘Tribal Warfare in Economics Is a Thing of the Past’. See * below.

 

BLO  The united tribe of the scientifically incompetent. Comment on Noah Smith on ‘Tribal Warfare in Economics Is a Thing of the Past’.  See * below.

 

NOP  Failed economics: The losers’ long list of lame excuses. Comment on Noah Smith on ‘Academic signaling and the post-truth world’. See * below.

 

RWER  Inequality: Market failure or theory failure?

Comment on Edward Fullbrook on ‘“Of the 1%, by the 1%, for the 1%”, Joseph E. Stiglitz’. See * below.

 

EV  Economists’s real job problem. Comment on Justin Fox on ‘Economists Contemplate Life on the Outs’. See * below.

 

BLO  Economists’s real job problem.  Comment on Justin Fox on ‘Economists Contemplate Life on the Outs’. See * below.

 

EV  Inequality: Market failure or theory failure?

Comment on Asher Schechter on ‘Nobel Laureates: Eliminating Rent Seeking and Tougher Antitrust Enforcement Are Critical to Reducing Inequality’. 

See * below.

 

MNE  Inequality: Market failure or theory failure?

Comment on Asher Schechter on ‘Nobel Laureates: Eliminating Rent Seeking and Tougher Antitrust Enforcement Are Critical to Reducing Inequality’. Plus Foundational concepts

 

MNE  Unemployment is high because economics is false: period, full stop, end of story. Comment on Lars Syll on ‘Unemployment delusion’. See * below.

 

LPS  Unemployment is high because economics is false: period, full stop, end of story. Comment on Lars Syll on ‘Unemployment delusion’.

 

ES  The futile attempt to recycle Sraffa. Comment on Ajit Sinha on ‘Sraffa’s Revolution in Economic Theory’.

 

EV  Narrative economics and the imperatives of the sitcom. Comment on Tim Taylor on ‘Narrative Economics and the Laffer Curve’.

 

BB  Economics as poultry entrails reading. Comment on Bill Mitchell on ‘Austerity is the problem for Britain not Brexit’. See * below.

 

MNE  Say hello to Lars Syll, Keynes’s last parrot. 

Comment on Lars Syll on ‘The true nature of saving’

 

LPS  Say hello to Lars Syll, Keynes’s last parrot. Comment on Lars Syll on ‘The true nature of saving’.

 

MNE  Income distribution: Market failure or theory failure? Comment on Branko Milanovic on ‘Pareto, Taleb and the tails of income distributions’.  Plus What the observed distribution really means.

 

MNE  Economics as poultry entrails reading. Comment on Bill Mitchell on ‘Austerity is the problem for Britain not Brexit’.

 

LPS  Failed economics: The losers’ long list of lame excuses. Comment on Lars Syll on ‘Relevance is not irrelevant’.  See * below.

 

GI  Income distribution: Market failure or theory failure? Comment on Branko Milanovic on ‘Pareto, Taleb and the tails of income distributions’. See * below.

 

RWER  Complexity and other silly excuses. Comment on Asad Zaman on ‘Keynesian Complexity’. See * below.

 

RWER  A heterodox pushback or just another shot in the foot? Comment on Peter Radford on ‘The Market Turn’ See * below.

 

EV  When fake scientists call out on fake politicians.

Comment on Paul Krugman on ‘The Age of Fake Policy’.  See * below.

 

MNE  Income distribution: Market failure, moral failure, or theory failure? Comment on David Glasner on ‘Wherein Hayek Agrees with DeLong that Just Because You’re Rich, It Doesn’t Mean You Deserve to Be’.

 

UE  Income distribution: Market failure, moral failure, or theory failure? Comment on David Glasner on ‘Wherein Hayek Agrees with DeLong that Just Because You’re Rich, It Doesn’t Mean You Deserve to Be’.  See * below.

 

EV  Income distribution: No market failure but theory failure. Comment on John Quiggin on ‘Market Failure and Income Distribution’.  See * below.

 

RWER  Answer to Macroeconomic Challenges.  See * below.

 

MNE  How to finally hammer down the nails in the coffin of Monty Python economics. Comment on Peter Radford on ‘Tectonics and Growth’.

 

RWER  The economic machine is broken? Don’t call the heterodox repairman! Comment on David Ruccio on ‘The machine is broken’.  See * below.

 

MNE  Economics: The pluralism of false theories is over. Comment on Tom Hickey on ‘Steve Keen — Teaching Economics the Pluralist Way’.

 

MNE  A rough business plan for science. Comment on Bob on ‘Steve Keen — Teaching Economics the Pluralist Way’.

 

MNE  Will economics ever become a science? Comment on Mathew Kahn on ‘2007 Krugman on Milton Friedman’.

 

EV  Will economics ever become a science? Comment on Mathew Kahn on ‘2007 Krugman on Milton Friedman’. See * below.

 

EV  A political stench is in the air. Comment on James Kwak on ‘A Change Is in the Air’. See * below. Related NOTE on Bob. REPLY to Bob.

 

TBS  A political stench is in the air. Comment on James Kwak on ‘A Change Is in the Air’. See * below.

 

RWER  The distribution theory is false because the profit theory is false. Comment on Lars Syll on ‘New study shows marginal productivity theory has only a “negligible” link to reality’. See * below.

 

EV  Let Keynes rest in peace.  Comment on Koichi Hamada on ‘Keynes Reborn’.

 

PS  Let Keynes rest in peace.  Comment on Koichi Hamada on ‘Keynes Reborn’

 

EV  Note on the Link to ‘Fake Academe, Looking Much Like the Real Thing’ NYT Dec 29. See * below.

 

RFEW   The futile synthesis of neoclassical rubbish and Keynesian garbage. Comment on Roger Farmer on ‘Keynes betrayed’. See * below.

 

MNE  The distribution theory is false because the profit theory is false. Comment on Lars Syll on ‘New study shows marginal productivity theory has only a “negligible” link to reality’.

 

LPS  The distribution theory is false because the profit theory is false. Comment on Lars Syll on ‘New study shows marginal productivity theory has only a “negligible” link to reality’. See * below.

 

EV  Americans believe crazy things, yet they are outdone by economists. Comment on Catherine Rampell on ‘Americans — especially but not exclusively Trump voters — believe crazy, wrong things’

 

MNE  Why Hayek was not a scientist. Comment on David Glasner on ‘Why Hayek Was not a Conservative’.

 

UE  Why Hayek was not a scientist. Comment on David Glasner on ‘Why Hayek Was not a Conservative’.  See * below.

 

RWER  Economics: The pathetic story of two failures.

Comment on Lars Syll on ‘Keynes betrayed’.  See * below.

 

EV  Economics: Two ages of scientific incompetence.

Comment on Bradford DeLong on ‘The Age of Incompetence’.  See * below.

 

PS  Economics: Two ages of scientific incompetence.

Comment on Bradford DeLong on ‘The Age of Incompetence’.

 

LPS  Economists and their silly excuses. Comment on Lars Syll on ‘The search for heavy balls in economics’. See * below.

 

EV  Link to 'The futile attempt to recycle Sraffa'. See * below.

 

INET  The futile attempt to recycle Sraffa. Comment on Ajit Sinha on ‘Sraffa’s Revolution in Economic Theory’.

 

LPS  Heterodoxy, too, is scientific junk.  Note on Lars Syll on 'Economists — nothing but a bunch of idiots savants.'  See * below.

 

RWER  The one stone that kills orthodox and heterodox employment theory. Comment on Asad Zaman on ‘Keynesian Unemployment’. See * below.

 

LPS  Economics: The pathetic story of two failures.

Comment on Lars Syll on ‘Keynes betrayed’.  See * below.

 

MNE    Keynesianism is broke: Get over it! Comment on David Fields on ‘A Lecture by Robert Skidelsky on Keynes’s General Theory’.

 

RPE  Keynesianism is broke: Get over it! Comment on David Fields on ‘A Lecture by Robert Skidelsky on Keynes’s General Theory. See * below.

 

RWER  The IS-LM macro imbeciles. Comment on Lars Syll on ‘The non-existence of Paul Krugman’s Keynes/Hicks macroeconomic theory’.  See * below.

 

MNE  The IS-LM macro imbeciles. Comment on Lars Syll on ‘The non-existence of Paul Krugman’s Keynes/Hicks macroeconomic theory’.

 

LPS  The IS-LM macro imbeciles. Comment on Lars Syll on ‘The non-existence of Paul Krugman’s Keynes/Hicks macroeconomic theory’.   See * below.

 

SD21  Keynesianism is broke: Get over it! Comment on LordKeynes on ‘A Lecture by Robert Skidelsky on Keynes’s General Theory’.  See * below.

 

MNE  Keynesianism is broke: Get over it! Comment on LordKeynes on ‘A Lecture by Robert Skidelsky on Keynes’s General Theory’.

 

EV  Economists and politics: Will you kindly shut up!

Comment on Mark Thoma on ‘What Economics Can Tell Us about Trump’s Policy Proposals’. See * below.

 

BDL  The final smackdown of blahblah-Keynesianism.

Comment on Brad DeLong on ‘(Early) Monday DeLong Smackdown Watch: Has Macroeconomics Gone Right?’. See * below.

 

EV  Macroeconomics ― dead since Keynes.

Comment on Diane Coyle on ‘Rescuing macroeconomics?’. See * below.

 

MNE  Macroeconomics ― dead since Keynes.

Comment on Diane Coyle on ‘Rescuing macroeconomics?’.

 

 

 

 

Back to Onblog

Older page Archive_2 

 

Blog-References 14                                                                  

EE  Macroeconomics ― dead since Keynes.

Comment on Diane Coyle on ‘Rescuing macroeconomics?’. See * below.

LPS  Economics ― a Pygmy wrestling show.

Comment on Lars Syll on ‘Microfoundationalist fantasies’. See * below.

RWER  Economics ― a Pygmy wrestling show.

Comment on Lars Syll on ‘Microfoundationalist fantasies’. See * below.

RWER  Economics, methodology, and the Molehill Impossibility. Comment on Bernard Guerrien on ‘A New “General Theory”? A review of Capitalism by Anwar Shaikh’. See * below.

ES  Recycling trash talk. Comment on Pro Growth Liberal on ‘The Current Account Deficit: Low National Savings Redux’.

NOP  Economics is not post-truth but pre-truth.

Comment on Noah Smith on ‘Academic signaling and the post-truth world’.

YT Comment on: Oliver Hart, Laureate in Economic Sciences.

EV  Comment on: Oliver Hart, Laureate in Economic Sciences. See * below.

MNE  Ground Control to David Glasner. Comment on David Glasner on ‘A Primer on Equilibrium’.

UE  Ground Control to David Glasner. Comment on David Glasner on ‘A Primer on Equilibrium’. See * below.

RWER  Heterodoxy and the re-invention of science.

Comment on Asad Zaman on ‘Historical context for Keynes’. See * below.

HET  Macro for dummies. Comment on heteconomist on ‘Short & Simple ― Total Spending Equals Total Income’.  Plus  Money is an analytically different matter.

MNE  The magic circuit and how economists got it wrong. Comment on Peter Cooper on ‘The Monetary Circuit & Compatibility of Marx, Kalecki and Keynesian Macro’.

HET  The magic circuit and how economists got it wrong. Comment on heteconomist on ‘The Monetary Circuit & Compatibility of Marx, Kalecki and Keynesian Macro’.  Plus  Kalecki got it wrong. 

Plus  How to achieve consistency.

EV  The prime primer on equilibrium. Comment on David Glasner on ‘A Primer on Equilibrium’. See * below.

UE  The prime primer on equilibrium. Comment on David Glasner on ‘A Primer on Equilibrium’. See * below.

MNE  Equilibrium is a nonentity like dancing angels on a pinpoint. Comment on David Glasner on ‘A Primer on Equilibrium’. Plus  The prime primer on equilibrium.

UE  Equilibrium is a nonentity like dancing angels on a pinpoint. Comment on David Glasner on ‘A Primer on Equilibrium’. See * below.

EV  Equilibrium is a nonentity like dancing angels on a pinpoint. Comment on David Glasner on ‘A Primer on Equilibrium’. See * below.

NOP  Methodology 101, economic filibuster, and the mother of all excuses. Comment on Noah Smith on ‘More about the Econ 101 theory of labor markets’.

WCI  Nick Rowe: Bury me at the end of coal-pit. Comment on Nick Rowe on ‘Why I=S is a bad place to start doing macro, again’. See * below.

MNE  Why economists know nothing. Comment on Steve Roth on ‘Why Economists Don’t Know How to Think about Wealth (or Profits)’.

  

EVO  Why economists know nothing. Comment on Steve Roth on ‘Why Economists Don’t Know How to Think about Wealth (or Profits)’. See * below.

BB  Rethinking MMT. Comment on Bill Mitchell on ‘Our affect is driving us back to a need for continuous fiscal deficits’. See * below.

MNE  Rethinking MMT. Comment on Bill Mitchell on ‘Our affect is driving us back to a need for continuous fiscal deficits’. Plus MMTers are scientifically incompetent. Plus   Loss is NOT income, profit is NOT income, only distributed profit is income.  Plus How to get rid of the bigots of common sense.  Plus  The basics of macro accounting. Plus  Macro for dummies.

LPS  Econ 101 is dead ― and now? Comment on Lars Syll on ‘Mainstream macro modeling — nothing but smoke and mirrors’. See * below.

NOP  Econ 101 is dead ― and now? Comment on Noah Smith on ‘An econ theory, falsified’. See * below.

ES  Economists still don’t get Econ 101 right.

Comment on Peter Dorman on ‘The Identity-Equals-Causation Fallacy, Yet Again’. Plus The false foundations of economics.  Plus  Newspaper wisdom is out of place.

MNE  The economist’s pick: liar, moron or what? Comment on Bob on James Kwak on ‘Economics 101, Economism, and Our New Gilded Age’.

LPS  The disutility of debunking NAIRU. Comment on Lars Syll on ‘NAIRU — a false hypothesis’. See * below.

EV  The disutility of debunking Econ 101. Comment on James Kwak on ‘Economics 101, Economism, and Our New Gilded Age’. See * below.

MNE  The disutility of debunking Econ 101. Comment on James Kwak on ‘Economics 101, Economism, and Our New Gilded Age’.  Plus  The explosion of distribution theory.

TBS  The disutility of debunking Econ 101. Comment on James Kwak on ‘Economics 101, Economism, and Our New Gilded Age’. See * below.

OLC  Rethinking the Profit Law. Comment on David Ruccio on ‘Value and the Marxian critique of political economy’.

RFEW  Rethinking deficit spending. Comment on Roger Farmer on ‘Three Facts about Debt and Deficits’. See * below.  Plus reply on MNE  I=S: the lethal error/mistake/blunder.

EV  Rethinking the multiplier. Comment on Mark Thoma on ‘Infrastructure, jobs and wages: It’s not so simple’. See * below.

EV  Economics and corruption. Comment on Paul Krugman on ‘Why Corruption Matters’. See * below.

RWER Keynesianism in intellectual standstill. Comment on Lars Syll on ‘Post-real’ macroeconomics — three decades of intellectual regress. See * below.

RWER  How Keynes got macro wrong and Allais got it right. Comment on Asad Zaman on ‘Impact of Keynes’. See * below.

ES  How to end the Punch and Judy show about profit

Comment on Fred Moseley and Peter Dorman on ‘It’s Red Friday and Time to Discuss the Role of Exploitation in Profit’

EV  The thing with profit and exploitation. Comment on Peter Dorman on ‘It’s Red Friday and Time to Discuss the Role of Exploitation in Profit’

ES  The thing with profit and exploitation. Comment on Peter Dorman on ‘It’s Red Friday and Time to Discuss the Role of Exploitation in Profit’. Reply on MNE  The classical/neoclassical and Keynesian/Post-Keynesian Theories of Value/Profit are provable false. Comment on MNE  The Bible is misplaced in economics.  Reply on MNE  FakeDiscourse. Reply on MNE Whom do you REALLY trust?

EV  FakeNews, FakeScience: economics in the information age. Comment on Mark Thoma on ‘Today’s Economic Political Winds Could Turn Into Tomorrow’s Tornado’. See * below.

RWER  Who or what exactly did Keynes save?

Comment on Asad Zaman on ‘Methodology for (Re)-Reading Keynes’. See * below.

RWER  Economics for philosophers. Comment on David Ruccio on ‘Richard Rorty, postmodernism, and Trump’. See * below.

RWER  Keynes’s message for contemporaries.

Comment on Asad Zaman on ‘Reading Keynes’. See * below.

NBR  Wikipedia and the promotion of economists’ idiotism

UE  Economists: the Trumps of science. Comment on David Glasner on ‘OMG! The Age of Trump Is upon Us’. See * below.

SPE  How to get out of the deflation trap. Comment on Andrew Gamble on ‘Deflation trap’. See * below.

LPS  A new curriculum for swampies? Comment on Lars Syll on ‘Economics — an academic discipline gone badly wrong’. See * below.

ES  The economist as standup comedian. Comment on Sandwichman on ‘The Eighteenth Brumaire of Donald J. Trump’. See * below.  Plus   Political economics: the worst category mistake. See * below.  Plus  Widespread confusion about the scientific status of economics. See * below.

RWER  The economist as standup comedian.

Comment on David Ruccio on ‘Blame globalisation.?’ See * below.

RWER  Economists: Jacks of all trades ― except economics. Comment on merijntknibbe on ‘Global warming: bet on it’. See * below.

LPS  Heterodoxy’s popular but silly math denial.

Comment on Lars Syll on ‘Formalized economics bordering on the insane’. See * below.

LPS  A new curriculum for swampies? Comment on Lars Syll on ‘The need for a new economics curriculum without the present suicidal formalism’. See * below.

RWER  A new curriculum for swampies?

Comment on Lars Syll on ‘The need for a new economics curriculum without the present suicidal formalism’. See * below.

MM  How to end the futile economics zombie ping-pong. Comment on Simon Wren-Lewis on ‘Do New Keynesians assume full employment?’.  Plus Keynes was not a great thinker.

LPS  Political economics: a deadhead sitcom.

Comment on Lars Syll on ‘Why Trump won the election’.  See * below.

RWER  Post Keynesianism, science, and universal idiocy. Comment on Lars Syll on ‘What is Post Keynesian Economics?’.

RWER  It is better to be precisely right than roughly wrong. Comment on Lars Syll on ‘Why it is better to be roughly right than precisely wrong’.

EV  There is NO such thing as an economic expert. 

Comment on ‘Paul Krugman: The Economic Fallout’. See * below.

ES  There is NO such thing as an economic expert. 

Comment on Sandwichman on ‘Welcome to the Amusement Park at the Edge of the Abyss’. See * below.

RWER  There is no such thing as THE market. Comment on Editor on ‘There are two price levels in capitalism’. See * below.

RWER  The father of modern economics and his imbecile kids. Comment on Lars Syll on ‘Mathematical modelling in economics’. See * below.

ES  The father of modern economics and his imbecile kids. Comment on Peter Dorman on ‘The Hard Core of Neoclassical Economics’.

RWER  From Zero Hedge Nov 6: Economics is broken and there is no internal incentive to fix it. See * below.

ECB  Unemployment is high because economics is false: period, full stop, end of story. Comment on “Battling Unemployment: A Clear Win for the ‘Cycs'”

RWER  Tobin, the tragedy of After-Keynesians, and the indelible mark of incompetence. Comment on Thomas Palley on ‘James Tobin’. See * below.

LPS  From false micro to true macro: the new economic paradigm. Comment on Lars Syll on ‘Why should economics demand what harder sciences do not?’. See * below.

ES  Scientific suicide in the revolving door. Comment on Barkley Rosser on ‘The Biggest Disjuncture Ever Between Public Opinion And Professional Economists?’.  Plus  How economists murdered the economy and got away with it.  Plus  Economics: the simple logic of failure.  Plus The future of economics.

Plus  Here is your lucky escape, societies.

RWER  Explaining the real-wage/productivity disconnect. Comment on Editor on ‘Wages not commensurate with labor productivity in the USA’. See * below.

RWER  How the mainstream vanished in the gutter.

Comment on Lars Syll on ‘What is mainstream economics?’.  See * below.

LPS  Heterodox economics and the problem of inferior and superior critique. Comment on Lars Syll on ‘Does economics — really — need models?’ See * below.

MMM  The final implosion of MMT. Comment on Senexx on ‘Budget surpluses are not national saving’.

Replies1 on MNE  to Bob, Ralph Musgrave, Matt Franko.  Replies2 on MNE Economics is a failed science.  Plus on BE  No fun, only ignorance. Comment on Brian Romanchuk on ‘Fun With Accounting Identities’.  Plus on BE  Comment on Jamie on I=S. Plus on BE Romanchuk's brain dead blathering. Replies on MNE Economists’ brains are mushy.  Reply on MNE Stock-flow consistency. Reply on MNE The worst scientific embarrasment.  Reply on MNE Breakdown of capitalism. Reply on MNE MMT is out of science.  Reply on MNE Agenda pushers vs. scientists.  REPLY on MNE  Too stupid for elementary math. REPLY on MNE Profit and rent.  Reply on MNE

One more time: MMT is formally defective.  Reply on MNE Wikipedia and the promotion of economists’ idiotism.

LPS  How the mainstream vanished in the gutter.

Comment on Lars Syll on ‘What is mainstream economics?’ See * below.

EV  Does economics matter? Comment on Adam Levitin on ‘Does Behavioral Economics Matter?’. See * below.

LPS  Not big news: political economics is a failure.

Comment on Lars Syll and Joseph Stiglitz on ‘Economics — the triumph of ideology over science’. See * below.

CS  Does economics matter? Comment on Adam Levitin on ‘Does Behavioral Economics Matter?’ See * below.

LPS  Orthodoxy vs Heterodoxy: the squabbling of quacks. Comment on Lars Syll on ‘Mainstream economists dissing people that want to rethink economics’. See * below.

LPS  The truth about truth in economics. Comment on Lars Syll on ‘What is truth in economics?’ See * below.

RWER  Orthodoxy vs Heterodoxy: the squabbling of quacks. Comment on Lars Syll on ‘Mainstream economists dissing people that want to rethink economics’. See * below.

RWER  Economics pedagogy: an un- and anti-scientific exercise. Comment on Asad Zaman on ‘Michel Foucault: Power/Knowledge’. See * below.

LPS  Economics: a science without scientists.

Comment on Lars Syll on ‘What it takes to make economics a real science’. See * below.

BB  Hobson got full employment policy almost right.

Comment on Bill Mitchell on ‘Rising inequality and underconsumption’. See * below.

RWER  Economists have no brains. Comment on Editor on ‘Economists have no ears’. See * below.

RWER  Heterodoxy ― a new paradigm or just another political sect? Comment on Ken Zimmerman and Dean Baker on ‘The old debt and entitlement charade’.

NOP  Economics between physics and psychiatry. 

Comment on Noah Smith on ‘Do economists have physics envy?’ Plus Economics between science and magic. See * below.

LPS  Wicksell’s misplaced critique of mathematics.

Comment on Lars Syll on ‘On the proper use of mathematics in economics’. See * below.

RWER  Go, Heterodoxy, move on! Comment on Peter Radford on ‘Can we move on?’ See * below.

NOP  Evolutionary economics: Just another degenerated research program. Comment on Noah Smith on ‘David Sloan Wilson’s econ critique’. Plus

Fire your Econ 101 teacher. Plus The bigots of common sense. Plus  New economic thinking ― false promises and hopes.

CMF  A new episode of one of the worst blunders of economics. Comment on Jo Michell on ‘What is the loanable funds theory?’. See * below.

JWM  Macrofoundations, too, are defective. Comment on J. W. Mason and Lance Taylor on ‘Saving, investment and the natural rate’.

RWER  Stuck with the economics prisoner’s dilemma,

Comment on Peter Radford on ‘Blind leading the blind’. See * below.

LPS  Loanable funds, lack of scientific firepower and abundance of political fartpower. Comment on Lance Taylor and Lars Syll on ‘Loanable funds theory is inconsistent with data’. See * below.

MM  NAIRU ― a folk psychological hallucination.

Comment on Simon Wren-Lewis on ‘Did the Bank of England cause Brexit?’

LPS  The Cambridge crap curriculum. Comment on Lars Syll and Pontus Rendahl on ‘Crash and learn?’ See * below.

RWER  Economics and scientific foolishness.

Comment on Lars Syll on ‘The main problem with mainstream economics’. See * below.

UE  The road that turned out to be a blind alley.

Comment on David Glasner on ‘Rational Expectations, or, The Road to Incoherence’. Plus  Refute it or retire. See * below.

RWER  Swedish economists — what’s that? Comment on Avner Offer on “The Nobel prize in economics takes too little account of social democracy”, See * below.

LPS  Swedish economists — what’s that? Comment on Lars Syll on ‘Paul Romer — favourite candidate for ‘Nobel prize’ 2016 ’.

RPE The real problem with the economics Nobel. See * below.

LPS  Feeble thinkers, feeble rethinkers: the perennial misery of economics. Comment on Lars Syll on ‘Crash and learn?’ See * below.

MM  The very serious blunders of very serious people.

Comment on Simon Wren-Lewis on ‘Very Serious People and the deficit’. See * below.

EVO  Note on saving and investment. See * below.

RWER  Feeble thinkers, feeble rethinkers: the perennial misery of economics. Comment on David Ruccio on ‘Crash and learn?’ See * below.  Plus  The Cambridge crap curriculum.  Comment on Lars Syll and Pontus Rendahl.  See * below.

LPS  Economics and scientific foolishness. Comment on Lars Syll on ‘The main problem with mainstream economics’. See * below.

RWER  Three lethal nonentities. Comment on Lars Syll on ‘Rational expectations is wrong’.

NOP  Just for the record: economics is dead. Comment on Noah Smith on ‘The new heavyweight macro critics’.

LPS  ICYMI Prediction/Forecasting. Comment on Lars Syll on ‘Why economists are useless at forecasting’. See * below.

NOP  It’s in the hard core, stupid. Comment on Noah Smith on ‘Hunting the Rational Expectations whale’. Plus  Cheerleading the cargo cult.  Plus  Science does not predict the future.

EV  When proto-scientific Heterodoxy calls Orthodoxy pseudo-scientific. Comment on FT on ‘Should we change the way we teach economics?’.  See * below.


RWER  When proto-scientific Heterodoxy calls Orthodoxy pseudo-scientific. Comment on Editor on ‘The economics profession is under profound pressure (Financial Times)’.  See * below.

RWER  The real problem with the economics Nobel. 

Comment on Lars Syll on ‘The Nobel factor — the prize in economics that spearheaded the neoliberal revolution’.  Plus  Great souls’ methodology. See * below.

RWER  Heterodoxy’s scientific self-deception. 

Comment on Lars Syll on ‘Paul Romer’s assault on ‘post-real’ economics’. See * below.

LPS  Heterodoxy’s scientific self-deception.

Comment on Lars Syll on ‘Paul Romer’s assault on ‘post-real’ economics’. See * below.

UE  A brief rectification employment theory.

Comment on kaleberg on ‘Price Stickiness Is a Symptom not a Cause’.  Plus  Violation of scientific standards.  Plus  The sticky-wage argumentation of both Walrasians and Keynesians is entirely beside the point.

LPS  Sticky prices or sticky brains? Comment on Lars Syll on ‘Price stickiness is NOT the problem’. See * below.

EV   The general theory of scientific incompetence.

Comment on Paul Krugman on ‘A General Theory Of Austerity?’ See * below.

EV  A basket of scientific deplorables. Comment on Paul Krugman on ‘VAT of Deplorables’. 

LPS  The real problem with the economics Nobel. Comment on Lars Syll on ‘The Nobel factor — the prize in economics that spearheaded the neoliberal revolution’. See * below.

UE  Sticky prices or sticky brains? Comment on David Glasner on ‘Price Stickiness Is a Symptom not a Cause’ See * below.

RWER  How Keynes got macro wrong and Allais got it right. Comment on Lars Syll on ‘Good advice to aspiring economists’. See * below.

BDL  The choice between Friedmanian pest and Keynesian cholera. Comment on Brad DeLong on ‘The Stakes of the Helicopter Money Debate: A Primer’. Plus  Economics is beyond repair. See * below.

NAK  The trouble with Naked Keynesianism.

Comment on Matias Vernengo on ‘The Trouble with Paul Romer’s Angriness’. See * below.

LPS  How Keynes got macro wrong and Allais got it right. Comment on Lars Syll on ‘Good advice to aspiring economists’. See * below.

ES  From gossip to the correct employment theory.

Comment on ProGrowthLiberal on ‘The New Men Without Jobs Conservative Excuse’.

UE  All models are false because all economists are stupid. Comment on David Glasner on ‘Paul Romer on Modern Macroeconomics, Or, the “All Models Are False” Dodge’.

RWER  True or false: income= wages+profits? False. 

Comment Lars Syll on ‘Stiglitz and the demise of marginal productivity theory’. See * below.

INET  Kick out the king and don’t forget the jesters.

Comment on Marc Lavoie on ‘Rethinking Macroeconomic Theory Before the Next Crisis’. Plus

You need to know the economic laws first.  Plus

Just another conventional opinion.

LPS  Solow and the ludicrousness of economics.

Comment on Lars Syll on ‘Solow on post-real Chicago economics’. See * below.

RWER  Out of science. Comment on David Ruccio on ‘Phlogiston, the identification problem, and the state of macroeconomics’. See * below.

RWER  Unemployment ― the toughest challenge for economics students. Comment on Maria Alejandra Madi on ‘How unemployment has been considered by mainstream macroeconomic models?’ See * below.

RWER  False hopes. Comment on Lars Syll on ‘Wren-Lewis trivializing Romer’s critique’.

FAR  ICYMI: The end of I=S/IS-LM. Comment on Roger Farmer on ‘Reinventing IS-LM: The IS-LM-NAC Model and How to Use It’.

LPS  Dumping the old guard. Comment on Lars Syll on ‘Current macro debate’. See * below.

RWER  The identification problem and the dumping of the old guard. Comment on David Ruccio on ‘Phlogiston, the identification problem, and the state of macroeconomics’.

LPS  No future for axiomatically false economics.

Comment on Lars Syll on ‘Romer follows up his critique’.  See * below.

BDL  Dead men tweeting. Comment on Brad DeLong on ‘DSGE as a Degenerating Research Program in Lakatosian Terms’.

RWER  Critique is good, refutation is better, paradigm shift is best. Comment on Lars Syll on ‘Why critique in economics is so important’. See * below.

LPS  Scientists and science actors.  Comment on Lars Syll on ‘Chicago drivel — a sure way to get a ‘Nobel prize’ in economics’. Plus   The criterion is scientifically true/false and NOT politically right/left. See * below.

RWER  Scientists and science actors.  Comment on Lars Syll on ‘Chicago drivel — a sure way to get a ‘Nobel prize’ in economics’. See * below.

EV  No future for axiomatically false economics. 

Comment on Narayana Kocherlakota on ‘How to Build a Better Macroeconomics’.  Plus  Profit is NOT just another part of income.

LPS  Critique is good, refutation is better, paradigm shift is best. Comment on Lars Syll on ‘Why critique in economics is so important’. See * below.

RWER  From subjective weighing of motives to objective systemic properties. Comment on merijntknibbe on ‘Insider critiques of neoclassical macro models’.  Plus  Inconclusive blather. See * below.

MM  The trouble with economics prizes. Comment on Simon Wren-Lewis on ‘Economics, DSGE and Reality: a personal story’.

MED  Mathiness is not the problem, incompetence is.

Comment on Jo Michell on ‘On heterodox macroeconomics’.

MED  Micro and macro inconsistency. Comment on Jo Michell on ‘Consistent modelling and inconsistent terminology’.

Blog-References 13                                                                  

LPS  Soap box economics. Comment on Lars Syll on ‘But not as wrong as Paul Krugman …

RWER Soap box economics. Comment on Lars Syll on ‘But not as wrong as Paul Krugman …’. See * below.

LPS  Marshall and the Cambridge school of plain economic gibberish. Comment on Lars Syll on ‘Proper use of math’.  See * below.

LPS  Keynesianism: The triumph of blathering over thinking. Comment on Lars Syll on ‘Dark age of macroeconomics’. See * below.

UE  Clueless about money an profit. Comment on David Glasner on ‘Helicopter Money and the Reflux Problem’.

LPS  The end of traditional Heterodoxy in the Malmö coal pit. Comment on Lars Syll on ‘The Bourbaki-Debreu delusion of axiomatic economics’. See * below.

RWE  Causa finita: the end of I=S/IS-LM. Comment on Lars Syll on ‘Hicks’ misrepresentation of Keynes — the Wicksellian connection’. See * below.

 

RWER  Economists: No legitimacy whatever. Comment on David Ruccio on ‘Capitalism vs. democracy’. See * below. Plus  How to save the world?.  See * below.

RWER  Putting the production function back on its feet. Comment on Steve Keen on ‘Incorporating energy into production functions’. See * below.

LPS Causa finita: the end of I=S/IS-LM. Comment on Lars Syll on ‘Hicks’ misrepresentation of Keynes — the Wicksellian connection’. See * below.

RWER  Equilibrium is stone dead — and now?Comment on Lars Syll on ‘General equilibrium theory — still dead after all these years’.

ES  False and true economic laws. Comment on Sandwichman on ‘The Outlaws of Political Economy’. Plus It isn’t science, it isn’t true.

RWER  Krugman is not an economist. Comment on Lars Syll on ‘Krugman’s gadget interpretation of economics’. See * below. Plus  On the shoulders of giants or cockroaches. See * below.

ES  Unemployment is the outcome of political economics. Comment on Sandwichman on ‘Did Jonathan Portes Cause Brexit?’.

RWER  Economists and the economy ― a nonstarter since 200 years. Comment on Peter Radford on ‘Basics'.

LPS  Equilibrium is stone dead — and now? Comment on Lars Syll on ‘General equilibrium — the art of denying the obvious’. See * below.

LPS  Aalborg Conference. ICYMI: Keynesianism/Post-Keynesianism is over the edge. See * below.

LPS  Debt and other unsolved economic problems. Comment on Lars Syll on ‘The real debt problem’. See * below.

RWER  Sumner’s moronomics. Comment on merijntknibbe on ‘A schocker for Sumner’.

RWER  Nothing to chose between Orthodoxy and traditional Heterodoxy. Comment on Lars Syll on ‘Steve Keen, Noah Smith and heterodox ‘anti-math’ economics’. See * below.

INET  Demystifying employment theory and policy. Comment on Adair Turner on ‘Demystifying Monetary Finance’.

NOP  Nothing to chose between Orthodoxy and traditional Heterodoxy. Comment on Noah Smith on ‘Heterodox macro ― a reply to some replies’. Plus  Economics as cargo cult science.  Plus  End the pathetic cargo cult ping-pong between brain-dead Orthodoxy and silly Heterodoxy.

RWER  Failed institutions. Comment on jlegge and Robert Locke on ‘Trade, Truth and Trump’. Plus  Politics is comedy, economics is science. Plus   Science and politics do NOT mix.  Plus Debt and profit. Plus   Explaining the Great Depression.  Plus  Only proof counts.  Plus   Flush the cheap talkers. Plus  Heterodoxy and Trumpism do not mix.  Plus

Turning the bananatization of economics around. See * below.

NAK  Economics: A map for the perplexed. Comment on Matias Vernengo on ‘Noah Smith on heterodox models’. See * below.

RWER  Science does NOT predict the future. Comment on Lars Syll on ‘On the irrelevance of Milton Friedman’. See * below.

LPS  Science does NOT predict the future. Comment on Lars Syll on ‘On the irrelevance of Milton Friedman’.  Plus Sad end in the coal pit. See * below. Plus  How to get out of the coal pit.

INET  How to get rid of an obsolete theory. Comment on Raphaële Chappe on General Equilibrium Theory: Sound and Fury, Signifying Nothing?’

LPS  ICYMI/Orthodoxy/Heterodoxy/Sysdoxy. Comment on Lars Syll on ‘Noah Smith — ill-informed and misleading.

RWER  ICYMI/Orthodoxy/Heterodoxy/Sysdoxy. Comment on Lars Syll on ‘Noah Smith — ill-informed and misleading. See * below.

BLO  ICYMI/Orthodoxy/Heterodoxy/Sysdoxy. Comment on Noah Smith on ‘Economics Without Math Is Trendy, But It Doesn’t Add Up’.

RWER  ICYMI/Heterodoxy. Comment on Lars Syll on ‘Noah Smith — ill-informed and misleading.

BLO  ICYMI/Heterodoxy. Comment on Noah Smith on ‘Economics Without Math Is Trendy, But It Doesn’t Add Up’.

ES  Economics and Project Augean Stable. Comment on Barkley Rosser on ‘The Man Who Saved The World From Nuclear Holocaust During The Cold War’. Plus  The Cold War is over.

ES  Economics: Science or cheap talk? Comment on Barkley Rosser on ‘The Man Who Saved The World From Nuclear Holocaust During The Cold War’.

ES  Samuelson or Who is the smartest smartie?

Comment on Barkley Rosser on ‘The Man Who Saved The World From Nuclear Holocaust During The Cold War’.

INET  A heap of scientific rubbish. Comment on J. W. Mason on ‘There Isn’t Really a ‘Mainstream’ at All’.

MM  Eclecticism, anything goes, and the pluralism of false theories. Comment on Simon Wren-Lewis on ‘Blanchard on DSGE’.

RWER  Economics is NOT a social science. Comment on Lars Syll on ‘On the persistence of science-fiction economics’. See * below.

RWER   Voluntary full employment and involuntary full stupidity. Comment on Lars Syll on ‘AD/AS models and the ‘disappearance’ of involuntary unemployment’. See * below.

LPS   Economics is NOT a social science. Comment on Lars Syll on ‘On the persistence of science-fiction economics’. See * below.

BLO  Economists’ full-scale retreat. Comment on Noah Smith on ‘Economists Give Up on Milton Friedman’s Biggest Idea.

LPS  Economists’ full-scale retreat. Comment on Lars Syll on ‘How true is Friedman’s permanent income hypothesis?’ See * below.

RWER  Economists’ full-scale retreat. Comment on Lars Syll on ‘How true is Friedman’s permanent income hypothesis?’ See * below.

RWER  Heterodoxy’s scientific self-burial. Comment on Paul Spicker on ‘On economics as a science’. See * below.

RWER  Economics: The chief demerit is inconsistency.

Comment on Lars Syll on ‘How evidence is treated in modern macroeconomics’. See * below.

LPS  Voluntary full employment and involuntary full stupidity. Comment on Lars Syll on ‘AD/AS models and the ‘disappearance’ of involuntary unemployment’. See * below.

RWER  Post Keynesianism, science, and universal idiocy. Comment on Lars Syll on ‘What is Post Keynesian Economics?’ See * below.

RWER  The unfinished Keynes.  Comment on Paul Davidson on ‘The Keynes Solution’. See * below.

LPS  Economics: The chief demerit is inconsistency.

Comment on Lars Syll on ‘How evidence is treated in modern macroeconomics’. See * below.

LPS  Economic policy guidance out of the scientific kindergarten. Comment on Lars Syll on ‘Austerity policies — nothing but kindergarten economics’. See * below.

RWER  Economic policy guidance out of the scientific kindergarten. Comment on Lars Syll on ‘Austerity policies — nothing but kindergarten economics’. See * below.

LPS  Substandard reasoners. Comment on Lars Syll on ‘Why economists can’t reason’.

RWER  Substandard reasoners. Comment on Lars Syll on ‘Why economists can’t reason’. See * below.

RWER  Making the economy the focus of the economists’ dialogue. Comment on Robert Locke on ‘Making firm governance part of the economists’ dialogue’. Plus  Economis as science.   Plus von Neumann's diagnosis and cure.  Plus  Right diagnosis, wrong therapy.  Plus  Monetary profit and the workers' share of output.  Plus  Economics and the moral order.  Plus  Every moron has an opinion. See * below.

RWER  Feeble minds, shaky assumptions, and the inevitable failure of economics. Comment on Edward Fullbrook on ‘Shaky Assumptions’.  Plus  Clueless PsySoc philosophizing. Plus   Cartesian economics.  Plus What are the certain, true, and primary axioms of economics? See * below.

RWER  Economics: Deadlocked between politics and science. Comment on Asad Zaman on ‘Economic Theory as Ideology’

EV  Stock prices, profit, and other self-fulfilling idiocies.  Comment on David Glasner on ‘Stock Prices, the Economy and Self-Fulfilling Prophecies’

RWER  Stock prices, profit, and other self-fulfilling idiocies. Comment on David Glasner on ‘Stock Prices, the Economy and Self-Fulfilling Prophecies’.

UE  Stock prices, profit, and other self-fulfilling idiocies. Comment on David Glasner on ‘Stock Prices, the Economy and Self-Fulfilling Prophecies’.

RWER  History and future of the monetary economy.

Comment on Michael Hudson on ‘A Travesty of Financial History ― which bank lobbyists will applaud’.  See * below.

RWER  There is no thrift paradox, or How economists fell over their own feet. Comment on Richard Koo on ‘Paradox of thrift was the norm before industrial revolution’.

RWER  Economics: The Battle of Frogs and Mice is over. Comment on Lars Syll on ‘Paul Krugman — nothing but a die-hard neoclassical economist’ .

RWER  What is dead certain in an uncertain world: economists’ abysmal incompetence. Comment on Lars Syll on ‘Paul Krugman vs. Mervyn King on Keynes’.

LPS  Enough! Economists, retire now! Comment on Lars Syll on ‘Krugman’s dangerous lack of methodological reflection’. Plus Krugman at the dead end.  Plus  Krugman’s scientific incompetence.

RWER  The economist as second-guesser, mind reader, and folk psychologist. Comment on Asad Zaman on ‘ET1% — Economic Theory of the top 1%’. Plus  Objectivity comes first, subjectivity comes second.  Plus  Only proof counts. Plus The beauty of axiomatization. Plus   Science is ABOVE politics. Plus  Alternative futures.  Plus  The  PsySoc delirium.  Plus  I do not study CVs, I study economics.

LPS  Ending the economic Froschmäusekrieg a.k.a. Batrachomyomachia. Comment on Lars Syll on ‘Paul Krugman — nothing but a die-hard neoclassical economist’. See * below.  Plus  Complete and final resolution of I=S/IS-LM. See * below.

RWER  The actual distribution is unacceptable? Do NOT seek economic advice! Comment on David Ruccio on ‘Globalization, inequality, and imperialism’.

RWER  Refocusing economics. Comment on Asad Zaman on ‘ET1% — Economic Theory of the top 1%’. Plus  The proofs are on the table.

LPS  What is dead certain in an uncertain world: economists’ abysmal incompetence. Comment on Lars Syll on ‘Paul Krugman vs. Mervyn King on Keynes’. See * below.

RWER  People have no faith in economics anymore? Do the Sexit now! Comment on David Ruccio on ‘Mainstream economics and the public’.

RWER  The other half plus the hitherto missing true foundations of macroeconomics. Comment on Richard Koo on ‘The other half of macroeconomics and the three stages of economic development’

RWER  Politics, storytelling, and science. Comment on Asad Zaman on ‘ET1% — Economic Theory of the top 1%’.

EV  Why should people trust failed scientists?

Comment on Luigi Zingales on ‘The Real Lesson From Brexit’.  Plus  How economics tried to become scientists.

RWER  What’s wrong with economics? Economists, of course! Comment on Lars Syll on ‘Mainstream economics — a pointless waste of time’

EV  People have no faith in economics anymore? Do the Sexit now! Comment on Mark Thoma.  Plus  Which part of OUT do you not unerstand?  Plus  Way behind the curve with saving and investment.

LPS  People have no faith in economics anymore? Do the Sexit now! Comment on ‘Why people have no faith in economics anymore’. See * below.

RWER  Does economics advance the understanding of economic reality? Comment on Dean Baker on ‘In the wake of Brexit, will the EU finally turn away from austerity?’ See * below.

LPS   Political economics: as worthless as ever. Comment on Lars Syll on ‘Brexit — a rejection of mainstream economics’. See * below.

OTE  Lost in the wood. Comment on Jared Bernstein on ‘From the joint dept. of: capitalism is remarkable, and we are a very sick society’.

LPS  Hayek ― agenda pusher or scientist? Comment on ‘Good Hayek vs. Bad Hayek’. See * below.

OTE  Iatrogenic economics.  Comment on Jared Bernstein on ‘Do economists understand economies?’ Plus  Do your scientific homework. Plus  Scientific write-offs.

NYT and  EV   Not a question of simplicity but of stupidity. Comment on Paul Krugman on ‘Tl;dr and Modern Macroeconomics’.

RWER  How to get rid of the silly Queen. Comment on Lars Syll on ‘Economics — spending time doing silly things’. Plus  Economics is NOT a science of behavior.  Plus  Small horizon economics.  Plus  Simply do the test, that's science. Plus  Science is well-defined.

LPS  How to get rid of the silly Queen. Comment on Lars Syll on ‘Economics — spending time doing silly things’. See * below.

RWER  Don’t tell me that Krugman’s economics is false, tell me instead what is true. Comment on Lars Syll on ‘Paul Krugman — mistaking the map for the territory’.

UE  What’s wrong with Econ 101? Economists, of course! Comment on David Glasner on ‘What’s wrong with Econ 101?’  Plus  Hypotheses non fingo.

RWER  Unemployment ― the fatal consequence of economists’ scientific incompetence. Comment on Asad Zaman on ‘Creating full employment’. See * below.

LPS  Getting macro right, getting employment right.

Comment on Lars Syll on ‘NAIRU religion’. See * below.

RWER  From coffee-house macro, financial macro, academic macro, Fed macro to correct macro. Comment on merijnknibbe on ‘The empirics of Noah-macro’. See * below.

NOP  Economics is locked in idiocy: How could this happen? Comment on Noah Smith on ‘Econ theory as signaling?’ Plus  Wrong question, wrong answer.

NOP   Economics: A cargo cult science from the very beginning. Comment on Noah Smith on ‘Republic of Science or Empire of Ideology?’

EB  and EV  Fatal defects of profit and market theory. Comment on Menzie Chinn on ‘Thinking about Wages, Inflation and Productivity… and Capital’s Share’.

RWER  Forget Chicago, and also Cambridge, Comment on Paul Davidson and Ken Zimmerman on ‘Chicago economics — only for people unlucky when trying to think’. Plus The monetary theory of production.

EV   Politics is national, science is not. Comment on Peter Bofinger on ‘German macroeconomics: The long shadow of Walter Eucken’.

RWER  Politics or Science? Decide and act accordingly. Comment on Asad Zaman on ‘The Keynesian Revolution and the Monetarist Counter-Revolution’.

EV  Getting out of IS-LM = Getting out of despair.

Comment on Nick Rowe on ‘On Olivier Blanchard on IS-LM and Teaching Intermediate Macro. And my despair.’ and on Oliver Blanchard on ‘How to Teach Intermediate Macroeconomics after the Crisis?’

WCI  Getting out of IS-LM = Getting out of despair. 

Comment on Nick Rowe on ‘On Olivier Blanchard on IS-LM and Teaching Intermediate Macro. And my despair.’  See * below.  Plus  How to terminate IS-LM teaching.

RWER  Keynes, the methodologist. Comment on Asad Zaman on ‘The Keynesian Revolution and the Monetarist Counter-Revolution’.

RWER  Economics reading: a form of mental bulimia. Comment on Peter Radford on ‘Gordon, McCloskey and growing pains’.  See * below.

RWER  The tiny little problem with economics. Comment on Lars Syll on ‘The tiny little problem with Chicago economics’. See * below.

RWER  The scientific self-elimination of  Heterodoxy. Comment on Jamie Morgan on ‘Economists confuse Greek method with science’.  Plus  The main points.  Plus Historians are behind the curve.  Plus  Science and history. Plus   Tell us more about profit theory. See * below.  Plus  Beware of would-be scientists.  Plus  The privilege of choosing the premises.  Plus Newton did it.  Plus  Walrasianism is out of science since Walras.  Plus Wanted: testable propositions. Plus  Settling the matter.  Plus  Scientists and swampies can never be friends. Plus How Robbins got economics wrong.

RWER  Making tools work in economics. Comment on Lars Syll on ‘Econometrics — a Keynesian perspective’. See * below.

RWER  History delivers the questions but not the answers. Comment on Robert Locke on ‘The naiveté of science as the history of Ideas’.  Plus  From microfoundations to macrofoundations.

RWER  False theory makes wrong policy: economics as loose cannon. Comment on Lars Syll on ‘NAIRU — a harmful fairy tale’.

LPS  The mad flip-floppers. Comment on ‘Wren-Lewis/ Mirowski/Syll on neoliberalism’. See * below.

LPS  The tiny little problem with economics. Comment on Lars Syll on ‘The tiny little problem with Chicago economics’. See * below.

RWER  Petitio principii — economists’ biggest methodological mistake. Comment on Lars Syll on ‘Ergodicity — the biggest mistake ever made in economics’.

LPS  When substandard thinkers dabble in science it is called economics. Comment on Lars Syll on ‘Solow and Damon Runyon’s Law’.  Plus History and science.

RWER  Methodological wrong-way drivers. Comment on Asad Zaman on ‘Economists confuse Greek method with science’.  Plus   The consistent ancients and the confused moderns.  Plus  Storytellers not scientists.  Plus  End of confusion.  See * below.

EV  Reading the correct Phillips curve correctly. Comment on Tim Duy on ‘Fed Watch: Should The Fed Tolerate 5% Unemployment?’

RWER  Still in the proto-scientific wood. Comment on Asad Zaman on ‘The emergence of science’.

BDL  and EV  Cranks? What cranks? That’s economics! Comment on Bradford DeLong on ‘Social Credit and "Neutral" Monetary Policies: A Rant on "Helicopter Money" and "Monetary Neutrality"’.

EV  How Wicksell and the rest got inflation/deflation wrong. Comment Stanley Fischer’s speech on ‘(Money), Interest and Prices: Patinkin and Woodford’.

RWER  What Keynes really meant but could not really prove. Comment Lars Syll on ‘Krugman and “what Keynes really meant”’. Plus Yes or No: Is the economy self-adjusting? Comment on Paul Davidson.  Plus   Could we, please, all focus on the key question of economics? Comment on Paul Davidson.

LPS  What Keynes really meant but could not really prove. Comment Lars Syll on ‘Krugman and “what Keynes really meant”’. See * below.

ES  The real trouble with Econ 101. Comment on Peter Dorman on ‘Issues with Econ 101 at Three Levels’.  Plus  Econ 101: Dull teachers and dull students in the endless loop.  Plus The downgrading of feeble thinkers and loud speakers.

 

NOP  Econ 101 — worse than useless. Comment on Noah Smith on ‘Michael Strain and James Kwak debate Econ101’.

 

RFEW  Neo-Paleo-Stupidicism. Comment on Roger Farmer on ‘Neo-Paleo-Keynesianism: A suggested definition’.

 

NAK  The great economic equations. See * below. Plus  The worst economic equation. See * below.

 

RST  and EV  Hayek or how economists miss their subject matter since more than 200 years. Comment on Robert Waldmann on ‘DeLong on Hayek, Smith, and Smith’.  Plus Replies.  Plus  No sound foundations.  Plus  Beyond common sense.  Plus  Commonsensers get out of economics.

 

LPS  The market economy is inherently unstable and economists never grasped it. Comment on ‘Frank Ackerman on general equilibrium theory’. See * below.

 

EV  Economics: From proto-science to freak show.

 

LPS  Heterodoxy’s biggest mistake is to repeat Orthodoxy’s biggest mistake. Comment on Roger Farmer on ‘The biggest mistake in the history of macroeconomic thought’. See * below.

 

NOP  and EV  How to leave pulp economics behind. Comment on Noah Smith on ‘Brad DeLong pulpifies a Cochrane graph’. Plus  Econ101, a crash course for Barkley Rosser.

 

LPS  Keynes, too, got the general theory of employment wrong. Comment on Lars Syll on ‘Price rigidities and unemployment’.  See * below.

 

RWER  Keynes, too, got the general theory of employment wrong. Comment on Lars Syll on ‘Price rigidities and unemployment’.  See * below.

 

RWER  How to get out of the econ101 PsySoc woods. Comment on Asad Zaman ‘The misconceived project of social science’.  See * below.

 

EV  The overdue public clarification of economics’ actual scientific state. Comment on Barkley Rosser on ‘The Legacy of Joan Robinson’.  Plus  Time for all proto-scientific blatherers to catch up.  Plus  A science without scientists.

 

ESP  Joan Robinson and the ‘throng of superfluous economists’. Comment on Barkley Rosser on ‘The Legacy of Joan Robinson’.

 

EV  Joan Robinson and the ‘throng of superfluous economists’. Comment on Barkley Rosser on ‘The Legacy of Joan Robinson’.

 

RWER  Don’t blame the model, blame the modeler.

Comment Lars Syll on ‘Krugman’s modeling flim flam’.

 

EV  Let’s do it. Comment on Barkley Rosser on ‘The Legacy of Joan Robinson’.

 

RWER  Heterodoxy, you have a problem. Comment on Zimmerman, Roth et al. on ‘Market Reflex’. See * below.

 

LPS  Don’t blame the model, blame the modeler. Comment Lars Syll on ‘Krugman’s modeling flim flam’. See * below.

 

RWER  Society, you have a problem. Comment on Peter Radford on ‘Market Reflex’.

 

EV   The employment multiplier.

 

TLI  and EV Economic policy has gone wrong because economic theory has gone wrong. Comment on ‘Rethinking economics: Cohen and DeLong’.

 

LPS  The economist as storyteller. Comment on Nanikore.

 

RWER  Heterodox schizo. Comment on Asad Zaman on ‘The Veil of Money.’ See * below.

 

RWER  The economist as storyteller. Comment on Lars Syll on ‘Macroeconomic just-so stories you really do not want to buy’. See * below.

 

NOP  Why don’t economists simply shut up for a while?Comment on Noah Smith on ‘Policy recommendations and wishful thinking’.  Plus  Scientific junk. Plus  Heterodoxy, too, is scientific junk. Plus  Krugman, too, is scientific junk. Plus  Quacking frogs in the economics swamp. See * below. Plus   A menace to their fellow citizens.  Plus Proof-deniers. Plus   Post Keynesianism is over. Plus Silly advice.

 

EV  Why do workers not tar and feather economists?

Comment on ‘Why not full employment?’

 

RWER  Rebuilding economics from scratch.  Comment on Lars Syll on ‘Economic rebellion.’ See * below.

 

SaM   Why do workers not tar and feather economists? Comment on ‘Why not full employment?’ Plus  The economist as storyteller.

 

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