AXECwiki
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
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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