AXECwiki
Onblog Archive_4
Blog-References 18
LPS John Hicks, fake scientist. Comment on Lars Syll on ‘Hicks on neoclassical ‘uncertainty laundering’’. See * below.
RWER The ethics of science is consistency ― economics is inconsistent. Comment on Lars Syll on ‘Neoliberal “ethics”’. See * below.
EV Setting the history of economic non-thought right. Comment on Barkley Rosser on ‘How I Came To No Longer Be A Kaldorian Economist’.
MNE Setting the history of economic non-thought right. Comment on Barkley Rosser on ‘How I Came To No Longer Be A Kaldorian Economist’.
ES Setting the history of economic non-thought right. Comment on Barkley Rosser on ‘How I Came To No Longer Be A Kaldorian Economist’. Plus The valid formal refutation of Keynes’ false premises has been given by Allais.
MNE Note on Brian Romanchuk's 'The State Of MMT Theory Is Good'.
MNE The profit effect of a Job Guarantee. Comment on Peter Cooper on ‘The Income-Expenditure Model with a Job Guarantee’. Plus MMT employment theory, too, has already been refuted. Plus The claim that MMTers support the cause of the ninety-nine percenters is either self-delusion or political fraud. Plus MMTers are too stupid for the elementary mathematics of accounting. Plus MMTers have to be expelled from the sciences.
LPS The ethics of science is consistency ― economics is inconsistent. Comment on Lars Syll on ‘Neoliberal “ethics”’. See * below.
RWER 10 steps to leave cargo cult economics behind for good. Comment on Lars Syll on ‘Seven sins of economics’.
MNE National Accounting: scientific incompetence or political fraud? Comment on David Graeber on ‘Accounting error spells chaos for global economy’. Plus The MMT balances equations are as false as can be. Plus MMT misses the essence of economics. Plus
If you do not know what profit is you are out as an economist. Plus The objective side of profit is the subject matter of economics.
REN National Accounting: scientific incompetence or political fraud? Comment on David Graeber on ‘Accounting error spells chaos for global economy’.
See * below.
MNE 10 steps to leave cargo cult economics behind for good. Comment on Lars Syll on ‘Seven sins of economics’.
LPS 10 steps to leave cargo cult economics behind for good. Comment on Lars Syll on ‘Seven sins of economics’. See * below.
UE Forget Friedman, forget the Quantity Theory.
Comment on David Glasner on ‘Milton Friedman and the Chicago School of Debating’.
RWER Scientists do not predict the future. Comment on Lars Syll on ‘Putting predictions to the test’. See * below.
EV Profit and the decline of workers’ nominal share.
Comment on Noah Smith on ‘Why Workers Are Losing to Capitalists’. See * below.
BLO Profit and the decline of workers’ nominal share.
Comment on Noah Smith on ‘Why Workers Are Losing to Capitalists’. See * below.
MNE Profit and the decline of labor’s nominal share.
Comment on Noah Smith/BloombergView on ‘Why Workers Are Losing to Capitalists’.
MNE Solving Mill’s starting problem. Comment on Peter Cooper on ‘State Monies are Fundamental to Modern Monetary Economies’. Plus MMT is Trump University economics. Plus Profit does not appear in the MMT balances equations. Plus Why does profit not appear in the balances equations of MMT?
LPS The new macroeconomic paradigm. Comment on Lars Syll on ‘Stiglitz and the full force of Sonnenschein-Mantel-Debreu’. See * below.
RWER The new macroeconomic paradigm. Comment on Lars Syll on ‘Stiglitz and the full force of Sonnenschein-Mantel-Debreu’. See * below.
MNE The new macroeconomic paradigm. Comment on Brian Romanchuk on ‘DSGE Wars (Again)’.
MM CORE: more lipstick on the dead economics pig.
Comment on Simon Wren-Lewis on ‘Undergraduate economics teaching moves into 21st century’.
LPS CORE: more lipstick on the dead economics pig.
Comment on Lars Syll on ‘Dangers of ‘running with the mainstream pack’’. See * below.
EVO New Economic Thinking = old scientific garbage. Comment on David Orrell on ‘Economyths: The Five Stages of Economic Grief’. See * below.
MNE New Economic Thinking = old scientific garbage. Comment on David Orrell on ‘Economyths: The Five Stages of Economic Grief’.
RWER Where modern macroeconomics went wrong.
Comment on Lars Syll on ‘Where modern macroeconomics went wrong’. See * below.
MNE MMT ― the economics moron as problem solver. Comment on Zero Hedge on ‘Even Bernie Sanders Thinks ‘Medicare For All’ Would Bankrupt America’. Plus MMTers are either morons or fraudsters.
EV Why is economics such a scientific embarrassment? Comment on Christopher Snyder on ‘What are economists for?’ See * below.
LSE Why is economics such a scientific embarrassment? Comment on Christopher Snyder on ‘What are economists for?’. See * below.
LPS Where modern macroeconomics went wrong.
Comment on Lars Syll on ‘Where modern macroeconomics went wrong’. See * below.
MNE CORE: more lipstick on the dead economics pig.
Comment on Bill Mitchell on ‘Paradigm shift ― not from the CORE Econ Project ― as mainstream as you will get’.
RWER What makes economics a failed science?
Comment on Lars Syll on ‘What makes economics a science?’. See * below.
MM Economics: the emancipation of science from politics. Comment on Simon Wren-Lewis on ‘Revolutions in Economic Policy’.
LPS What makes economics a failed science?
Comment on Lars Syll on ‘What makes economics a science?’. See * below.
MNE MMT: for the record. Comment on Ellis Winningham on ‘MMT and Politics: A Brief Explanation’. Plus MMT policy guidance has no sound scientific foundation. Plus MMTers are in the state of incorrigible self-delusion/idiocy/corruption. Plus Feynman would have flushed MMT down the toilet without further ado.
ES Babble economics. Comment on Sandwichman on ‘The Othering of “Economic Illiteracy”’. See * below.
MNE Post-Keynesianism, too, is indefensible.
Comment on Robert Skidelsky on ‘Stylised Facts’.
RS Post-Keynesianism, too, is indefensible.
Comment on Robert Skidelsky on ‘Stylised Facts’.
HET MMT: scientific incompetence or political fraud? Comment on Peter Cooper on ‘Unfulfilled Potential’. See * below.
MNE MMT: scientific incompetence or political fraud? Comment on Peter Cooper on ‘Unfulfilled Potential’
NOP The flat-earth realism of economists. Comment on Noah Smith on ‘Realism in macroeconomic modeling’. See * below.
MNE Why economists don’t know what profit is.
Comment on Steve Roth on ‘Why Economists Don’t Know How to Think about Wealth (or Profits)’.
AB Why economists don’t know what profit is.
Comment on Steve Roth on ‘Why Economists Don’t Know How to Think about Wealth (or Profits)’. See * below.
LPS Economic methodology for the little man.
Comment on Lars Syll on ‘Methodological arrogance’. See * below.
MNE Economic methodology for the little man.
Comment on Lars Syll on ‘Methodological arrogance’.
MNE Hunting down the economics body snatchers.
Comment on Jason Smith on ‘Solow has science backward’.
RWER Death of Keynesianism: the giggling killer.
Comment on Lars Syll on ‘What is wrong with economic theory’. See * below.
MNE Scientists do not predict the future. Comment on Adam Shaw/theguardian on ‘Why economic forecasting has always been a flawed science’.
MNE Rectification of MMT macro accounting.
Comment on Peter Cooper on ‘Short & Simple 19 ― Sectoral Balances in a Closed, Demand-Determined Economy’.
HET MMT: No sound scientific foundations. Comment on Peter Cooper on ‘Short & Simple 19 ― Sectoral Balances in a Closed, Demand-Determined Economy’. See * below.
MNE MMT: No sound scientific foundations.
Comment on Peter Cooper on ‘Short & Simple 19 ― Sectoral Balances in a Closed, Demand-Determined Economy’. Plus S & S 20 Science proceeds by conjecture and refutation.
MNE Robert Solow and Lars Syll, fake scientists.
Comment on Lars Syll on ‘Damon Runyon’s Law’.
LPS Robert Solow and Lars Syll, fake scientists.
Comment on Lars Syll on ‘Damon Runyon’s Law’. See * below.
BB MMT, fake science. Comment on Bill Mitchell on ‘Reclaiming the State’. See * below.
MNE MMT, fake science. Comment on Bill Mitchell on ‘Reclaiming the State’. Plus Both the anti-state and the pro-state position lacks sound scientific foundations because economics as a whole is a failed science.
MNE Keynesians ― terminally stupid or worse?.
Comment on Dirk Ehnts on ‘Keynes on Savings and Investment’. Plus After-Keynesians are light years behind the curve. Plus Investment and saving are NEVER equal, neither in accounting nor in reality.
E101 Keynesians ― terminally stupid or worse?.
Comment on Dirk Ehnts on ‘Keynes on Savings and Investment’. Plus After-Keynesians are light years behind the curve. See * below. Plus Investment and saving are NEVER equal, neither in accounting nor in reality. See * below.
RWER The abject failure of orthodox and heterodox distribution theory. Comment on Lars Syll on ‘Trading in Myths’. Plus Macrofoundations are the correct axiomatic starting point.
BB MMT: another case of inverted economics.
Comment on Bill Mitchell on ‘Fiscal policy is effective, safe to use, and markets know it’. See * below.
MNE MMT: another case of inverted economics.
Comment on Bill Mitchell on ‘Fiscal policy is effective, safe to use, and markets know it’.
LPS The abject failure of orthodox and heterodox distribution theory. Comment on Lars Syll on ‘Trading in Myths’. See * below.
EV The moralizing economist is not a good guy but a fake scientist. Comment on Ben Chu/Independent* on ‘After a long history of avoiding the morality factor, economists are beginning to include it in their work’. See * below.
EV Note on Cameron K. Murray’s ‘A random physicist takes on economics’. Jason Smith is NOT a random physicist but a random blatherer. See * below.
HET MMT: soap box economics just like the others.
Comment on Peter Cooper on ‘The Social Economy and the Potential Inherent in Currency Sovereignty’. See * below. Plus If saving is set to zero profit goes up.
FET Note on Cameron K. Murray’s ‘A random physicist takes on economics’. Jason Smith is NOT a random physicist but a random blatherer.
MNE Note on Cameron K. Murray’s ‘A random physicist takes on economics’. Jason Smith is NOT a random physicist but a random blatherer.
MNE MMT: soap box economics just like the others.
Comment on Peter Cooper on ‘The Social Economy and the Potential Inherent in Currency Sovereignty’.
MM A bitter pill for political economists. Comment on Simon Wren-Lewis on ‘Medicine and the microfoundations hegemony in macroeconomics’.
LPS Austerity: Who takes the little man for a ride?
Comment on Lars Syll on ‘The balanced budget mythology’. See * below.
MNE Marx and the curious coexistence of provably false economic theories. Comment on Radhika Desai on ‘Marx’s “Capital” at 150: History in Capital, Capital in History’.
HET Debunking MMT’s hallucinatory income-expenditure model. Comment on Peter Cooper on ‘Short & Simple 18 ― Income Determination in a Closed Economy’. See * below.
MNE Debunking MMT’s hallucinatory income-expenditure model. Comment on Peter Cooper on ‘Short & Simple 18 ― Income Determination in a Closed Economy’.
MNE Karl Marx, fake scientist. Comment on Jayati Ghosh on ‘150 years of ‘Das Kapital’: How relevant is Marx today?’.
RWER Karl Marx, fake scientist. Comment on Jayati Ghosh on ‘150 years of ‘Das Kapital’: How relevant is Marx today?’. See * below.
HET MMT’s two shots in the head. Comment on Peter Cooper on ‘Short & Simple 17 ― A Notion of Macroeconomic Equilibrium’. See * below.
MNE MMT’s two shots in the head. Comment on Peter Cooper on ‘Short & Simple 17 ― A Notion of Macroeconomic Equilibrium’. Plus The MMT approach is proto-scientific rubbish. Plus There is NO such thing as a micro or macro equilibrium in economics.
LPS The abject failure of orthodox and heterodox distribution theory. Comment on Lars Syll on ‘Trading in Myths’. See * below.
BB Economics: a hereditary mental disease with scientific incompetence as father and political fraud as mother. Comment on Bill Mitchell on ‘When neo-liberal masquerades as anti-establishment’. See * below.
MNE Economics: a hereditary mental disease with scientific incompetence as father and political fraud as mother. Comment on Bill Mitchell on ‘When neo-liberal masquerades as anti-establishment’. Plus Profit and debt are the two sides of the same coin. Plus The actual life-and-death question of economics is how to engineer a soft landing on a reasonably high plateau. Plus The whole Keynesian, and Post Keynesian, and MMT crowd got it wrong. Plus
The task of the economist qua scientist is to figure out how the actual economy works.
ES Economics, free speech, and censorship.
Comment on Sandwichman on ‘Slavery, “Heritage” and Southern Fried “Free Speech”’. See * below.
MNE MMT is NOT an alternative to neoliberalism.
Comment on Patricia Pino on ‘Labour’s economic alternative to neoliberalism’. Plus MMT policy proposals have NO sound scientific foundations. Plus
TOTAL profit is the sum of MONETARY profit/loss and NONMONETARY profit/loss. Plus MMT is refuted on ALL counts. Plus Economists, including MMTers, continually violate scientific standards. Plus
Davidson’s ridiculous ergodicity/nonergodicity pseudo-issue vaporizes just like Samuelson’s cargo cultic synthesis previously. Plus MMT employment theory, too, is false.
MNE No exploitation, no classes. Comment on Michael Hudson/Counterpunch/FAIRCONOMY on ‘Putting an End to the Rent Economy’. Plus The Profit Law is universal. Plus Davidson has not realized Keynes’s foundational blunder until this very day.
RWER Fixing the loanable funds blunder. Comment on Lars Syll on ‘Krugman and Mankiw on loanable funds — so wrong, so wrong’. See * below.
LPS Profit and the decline of labor’s nominal share.
Comment on Lars Syll/Dean Baker on ‘Economists — people being paid for telling stories justifying inequality’. See * below.
MNE Economics: a ‘science’ from suckers for suckers. Comment on Sandwichman on ‘The “Narratives” of Higgins’s “Warfare”’.
MNE Advancing to the correct multiplier. Comment on Peter Cooper on ‘Short & Simple 16 ― The Expenditure Multiplier and Income Determination’.
MNE Profit and the decline of labor’s nominal share.
Comment on Asher Schechter on ‘The Rise of Market Power and the Decline of Labor’s Share’.
ES Economics: a ‘science’ from suckers for suckers.
Comment on Sandwichman on ‘The “Narratives” of Higgins’s “Warfare”’. See * below.
EV Walrasian micro and Keynesian macro need to be flushed away. Comment on Bradford DeLong on ‘Micro Needs Macro’. See * below.
BDL Walrasian micro and Keynesian macro need to be flushed away. Comment on Bradford DeLong on ‘Micro Needs Macro’. See * below.
ES Barkley Rosser, petty scientist. Comment on Barkley Rosser on ‘The Financial Crisis Tenth Anniversary’.
RWER Loanable funds ― no hoax, just breathtaking stupidity. Comment on Lars Syll on ‘The loanable funds hoax’. See * below.
MNE MMT and the magical profit disappearance.
Comment on Peter Cooper on ‘Short & Simple 15 – The Sectoral Balances Identity’. Plus MMT violates the principles of accounting. Plus Bill Mitchell and Randall Wray are scientifically incompetent. Plus
Bill Mitchell and Randall Wray are scientifically incompetent. Plus MMT is economics from suckers for suckers.
MNE In search of new economists. Comment on Benjamin Friedman on ‘The Search for New Assumptions’.
EV In search of new economists. Comment on Benjamin Friedman on ‘The Search for New Assumptions’. See * below.
EV Sending Solow’s model to the dump of proto-scientific history. Comment on Luis C. Corchón on ‘A Malthus-Swan Model of Economic Growth’. See * below.
MNE Loanable funds ― no hoax, just breathtaking stupidity. Comment on Lars Syll on ‘The loanable funds hoax’.
LPS Loanable funds ― no hoax, just breathtaking stupidity. Comment on Lars Syll on ‘The loanable funds hoax’. See * below.
MNE There is NO such thing as supply-demand-equilibrium. Comment on Gavin Kennedy on ‘Paul Samuelson’s awesome error’.
MNE Economists: only good at excuses. Comment on Brian Romanchuk on ‘Rigour and Macroeconomics’.
MNE Fact of life: your econ prof is scientifically incompetent. Comment on Bill Mitchell on 'Falling enrolments in mainstream economics programs is a desirable outcome.' Plus There are, of course, economic laws but they do NOT, of course, relate to human behavior. Plus The difference between a scientist and an economist.
ASLL There is NO such thing as supply-demand-equilibrium. Comment on Gavin Kennedy on ‘Paul Samuelson’s awesome error’.
MNE MMT: The joy of public deficit spending.
Comment on Peter Cooper on ‘Short & Simple 14 ― Direct Impacts of Fiscal Policy on Net Financial Assets’.
EV The five pathetic blunders of Roger Farmer.
Comment on Roger Farmer on ‘The Marriage of Psychology with Multiple Equilibria in Economics’.
MNE How MMT got inflation wrong. Comment on Nick Johnson on ‘Modern Monetary Theory and inflation – Anwar Shaikh’s critique’.
PED How MMT got inflation wrong. Comment on Nick Johnson on ‘Modern Monetary Theory and inflation – Anwar Shaikh’s critique’.
EV Inflation: back to basics. Comment on David Andolfatto on ‘A monetary-fiscal theory of inflation’. See * below.
MMA Inflation: back to basics. Comment on David Andolfatto on ‘A monetary-fiscal theory of inflation’.
RWER Fact of life: your econ prof is scientifically incompetent. Comment on Lars Syll on ‘The conundrum of unknown unknowns’. See * below.
EV Going beyond No-Idea economics. Comment on Noah Smith on ‘Japan Buries Our Most-Cherished Economic Ideas’. See * below.
FA The irrelevance of populism for economics.
Comment on Jonathan Schlefer/Foreign Affairs on ‘Market Parables and the Economics of Populism’.
EV A la recherche de l'inflation perdue. Comment on David Andolfatto on ‘Where’s the inflation?’ See * below.
MMA A la recherche de l'inflation perdue. Comment on David Andolfatto on ‘Where’s the inflation?’
BLO Going beyond No-Idea economics. Comment on Noah Smith on ‘Japan Buries Our Most-Cherished Economic Ideas’. See * below.
MNE MMT and some economic essentials. Comment on Peter Cooper on ‘Short & Simple 13 ― Private Credit Creation’. Plus Money is clearly defined.
SaM Putting economic policy on scientific foundations. Comment on Chris Dillow on ‘Fiscal policy with a flat Phillips curve’. LINKS
TPS Economics, philosophy, and mathematics.
Comment on Robert Paul Wolff on ‘Mathematics in economics’. Plus Walrasianism, Keynesianism, Marxianism, Austrianism are at the SAME proto-scientific level. Plus Keynes was a fake scientist. Plus Philosophy: From Plato’s Academy to Trump’s Academy. Plus I know that you know nothing.
EV Milton Friedman, fake scientist. Comment on John B. Taylor on ‘Still Learning From Milton Friedman: Version 3.0’
LPS Note on Nancy Cartwright's 'What can economists know?' See * below.
MNE What is MMT? Comment on Nick Johnson on ‘Michael Hudson on Modern Monetary Theory’. Plus
MMT is proto-scientific rubbish.
PED What is MMT? Comment on Nick Johnson on ‘Michael Hudson on Modern Monetary Theory’. See * below.
MNE MMT is dead. Comment on Peter Cooper on ‘Short & Simple 12 ― Government Money’.
EV After-Keynesian zombie interbreeding. Comment on Roger Farmer on ‘Post-Keynesians and New-Keynesians: A Lesson From Evolutionary Biology’. See * below.
RFEW After-Keynesian zombie interbreeding.
Comment on Roger Farmer on ‘Post-Keynesians and New-Keynesians: A Lesson From Evolutionary Biology’. See * below.
MNE Economists: just too stupid for counting.
Comment on Tim Johnson on ‘Why mathematics has not been effective in economics’. Plus A system is mathematically unambiguously defined.
MMM Economists: just too stupid for counting.
Comment on Tim Johnson on ‘Why mathematics has not been effective in economics’.
MNE Why economists have not been effective in economics. Comment on Tim Johnson on ‘Why mathematics has not been effective in economics’
EV Forget Friedman, forget Keynes. Comment on Bill Mitchell on ‘There is nothing much that Milton Friedman got right!’. See * below.
RWER Why don’t you do what Joan Robinson told you to do? Comment on Lars Syll on ‘When ignorance is bliss’. See * below.
MNE The ultimate ― analytical ― origin of money.
Comment on Peter Cooper on ‘Self-Imposed Constraints as an Obfuscating Factor’.
MNE Money and time. Comment on Peter Cooper on ‘Self-Imposed Constraints as an Obfuscating Factor’.
Plus Money = information, and creation/destruction of money = accounting. Plus Definition of G. Plus
The point at issue is the lack of sound theoretical foundations.
MNE Money: from silly stories to the true theory.
Comment on Peter Cooper on ‘Short & Simple 11 – Money as an IOU’. Plus Money is information.
Plus MMT is provably false. Plus Complexity and stupidity. Plus MMT is refuted on all counts.
EV Why economists have not been effective in economics. Comment on Tim Johnson on ‘Why mathematics has not been effective in economics’.
See * below.
MMM Why economists have not been effective in economics. Comment on Tim Johnson on ‘Why mathematics has not been effective in economics’.
RWER Refutation of Asad Zaman’s heterodox methodology: all arguments you ever need. See * below.
MNE A tale of three accountants. Comment on Brian Romanchuk on ‘Book Review: GDP’
MNE Forget Friedman, forget Keynes. Comment on Bill Mitchell on ‘There is nothing much that Milton Friedman got right!’
BB Forget Friedman, forget Keynes. Comment on Bill Mitchell on ‘There is nothing much that Milton Friedman got right!’ See * below.
BDL Forget Hayek. Comment on David Glasner on ‘Hayek, Deflation and Nihilism’. See * below.
MNE Refutation of MMT: all proofs and arguments you ever need. Comment on Brian Romanchuk on ‘Presentation At MMT Conference’ ― cross-references. See * below.
MNE Forget Hayek. Comment on David Glasner on ‘Hayek, Deflation and Nihilism’.
EV Forget Hayek. Comment on David Glasner on ‘Hayek, Deflation and Nihilism’. See * below.
UE Forget Hayek. Comment on David Glasner on ‘Hayek, Deflation and Nihilism’. See * below.
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Blog-References 17
MNE How money emerges out of nothing ― the functional account. Comment on Peter Cooper on ‘Short & Simple 10’. Plus MMT has been thoroughly refuted. Plus Is MMT is a pseudo-scientific veil for a free-lunch program for the one-percenters?
RWER Intellectual deficit spending. Comment on Lars Syll on ‘The balanced budget paradox’. See * below.
MNE Note on Peter Cooper's Short & Simple 10.
MM The myth of economics knowledge. Comment on Simon Wren-Lewis on ‘The politics of ignoring knowledge’.
LPS Why don’t you do what Joan Robinson told you to do? Comment on Lars Syll on ‘When ignorance is bliss’. See * below.
RWER Don Lars and the axiomatic windmill
Comment on Lars Syll on ‘Why testing axioms is necessary in economics’. See * below.
EV Minimum wage ― a fatal error in economic reasoning. Comment on NYT on ‘Minimum Wage and Job Loss: One Alarming Seattle Study Is Not the Last Word’. See * below.
MNE Note on Peter Cooper's Short & Simple 9.
MNE Economics: math-adorned incoherent blather
Comment on Jason Smith on ‘What mathematical theory is for’. Plus Economists are simply at the wrong party. Plus The first step to a paradigm shift is to understand that economics is not a so-called social science. Plus Cranks posing as philosophers. Plus
Economists are a nuisance because they have an opinion on everything but knowledge of nothing.
LPS Intellectual deficit spending. Comment on Lars Syll on ‘The balanced budget paradox’. See * below.
RWER New Economic Thinking: the 10 crucial points.
Comment on Peter Radford on ‘Apologies not accepted’. See * below.
RWER Economics is not a science, not a religion, but proto-scientific rubbish. Comment on John Rapley on ‘How economics became a religion’. See * below.
INET New Economic Thinking: the 10 crucial points
Comment on J. W. Mason. How Not to Criticize Standard Economic Models.
MNE New Economic Thinking: the 10 crucial points
Comment on Bradford DeLong on ‘How to Think Like an Economist’.
ES New Economic Thinking: the 10 crucial points
Comment on Bradford DeLong on ‘How to Think Like an Economist’.
EV New Economic Thinking: the 10 crucial points
Comment on Bradford DeLong on ‘How to Think Like an Economist’. See * below.
BDL New Economic Thinking: the 10 crucial points
Comment on Bradford DeLong on ‘How to Think Like an Economist’.
EV On econoblogosphere bias. Comment on Chris Dillow on ‘On BBC bias’. See * below.
SaM On econoblogosphere bias. Comment on Chris Dillow on ‘On BBC bias’. See * below.
RWER Keynesianism ― the economists’ senile dementia. Comment on Lars Syll on ‘Why not even Paul Krugman is a real Keynesian’. See * below.
MNE GDP=BS. Note on Peter Cooper's Short & Simple 8 – Measuring GDP.
MNE You are fired! Comment on Barkley Rosser on ‘Those Of You Who Are Old Enough Will Really Get This’.
EV You are fired! Comment on Barkley Rosser on ‘Those Of You Who Are Old Enough Will Really Get This’. Plus More on Joan Robinson.
ES You are fired! Comment on Barkley Rosser on ‘Those Of You Who Are Old Enough Will Really Get This’. Plus The futile attempt to recycle Sraffa.
Plus The economics God equation. Plus Joan Robinson said TWO correct things. Plus Joan Robinson, the original source.
RWER A new perspective on economics. Comment on Lars Syll on ‘A new perspective on microfoundations’.
See * below.
MNE How economists habitually mess it up. Comment on Bradford DeLong on ‘How to Think Like an Economist’.
EV How economists habitually mess it up. Comment on Bradford DeLong on ‘How to Think Like an Economist’. See * below.
BDL How economists habitually mess it up. Comment on Bradford DeLong on ‘How to Think Like an Economist’. See * below.
MNE Don Lars and the axiomatic windmill. Comment on Lars Syll on ‘Why testing axioms is necessary in economics’.
LPS Don Lars and the axiomatic windmill. Comment on Lars Syll on ‘Why testing axioms is necessary in economics’. See * below.
MNE Macro for dummies. Comment on Peter Cooper on ‘Short & Simple 7 ― A Fundamental National Accounting Identity’. Plus Confounding balances and flows. Plus Take-away for non-economists. Plus Your best is simply not good enough. Plus Premature gloating. Plus Economists are simply too stupid for consistent scientific modeling. Plus The stock of money of the business sector is the numerical integral of profit/loss. Plus Perfect stock-flow consistency for discrete variables. Plus Why is profit not income for the business sector? Plus Depiction of the National Accounts. Plus Economists have NO idea of the foundational concepts of their subject matter.
ES Note on Barkley Rosser's 'Was Thomas Jefferson A Monstrous Rapist?' Plus Note on Jerry Brown on non-Euclidean geometry. Plus Economics and axiomatization.
MNE Economics is not a science, not a religion, but proto-scientific rubbish. Comment on John Rapley on ‘How economics became a religion’.
LPS Economics is not a science, not a religion, but proto-scientific rubbish. Comment on John Rapley on ‘How economics became a religion’.
MNE Note on Amy Willis's ‘Can majoring in philosophy make you a better person?’ Plus
Copernicus. Plus Marcus Aurelius. Plus Plato. Plus Take-away. Plus First things first is the first principle of practical philosophy. Plus Politics and science/ philosophy have to be strictly separated. Plus Credit where credit is due.
OLC Economics is not a science, not a religion, but proto-scientific rubbish. Comment on John Rapley on ‘How economics became a religion’.
EVO We are not yet out of the wood; in fact, we are not yet in it. Comment on Peter Turchin on ‘What Economics Models Really Say: A Review of Economics Rules’. See * below.
MNE Note on Peter Cooper’s ‘The Strange Capitalist Embrace of Austerity Viewed in Terms of Marx’s Falling Profit-Rate Law’.
HET Note on Peter Cooper’s ‘The Strange Capitalist Embrace of Austerity Viewed in Terms of Marx’s Falling Profit-Rate Law’.
MNE Keynesianism ― the economists’ senile dementia. Comment on Lars Syll on ‘Assumptions’. Plus What Hayek said about Keynes and vice versa is irrelevant because both were scientifically incompetent agenda pushers. Plus Economists are too stupid for the elementary mathematics of accounting.
MNE Zero-sum capitalism. Comment on Chris Dillow on ‘The crisis of positive-sum capitalism’. Plus
Mathematical Proof of the Breakdown of Capitalism.
MNE We are not yet out of the wood; in fact, we are not yet in it. Comment on Peter Turchin on ‘What Economics Models Really Say: A Review of Economics Rules’.
EV Zero-sum capitalism. Comment on Chris Dillow on ‘The crisis of positive-sum capitalism’. See * below.
SaM Zero-sum capitalism. Comment on Chris Dillow on ‘The crisis of positive-sum capitalism’. See * below.
EV We are not yet out of the wood; in fact, we are not yet in it. Comment on Peter Turchin on ‘What Economics Models Really Say: A Review of Economics Rules’. See * below.
WCI Laying the bastard Phillips curve to rest.
Comment on Nick Rowe on ‘Never mind the flatness, feel the length (of the observed Phillips Curve)’.
LPS Keynesianism ― the economists’ senile dementia. Comment on Lars Syll on ‘Why not even Paul Krugman is a real Keynesian’. See * below.
MNE A crash course in macro accounting. Comment on Peter Cooper on ‘Fiscal Policy, Sectoral Balances and Financial Sustainability’.
HET A crash course in macro accounting. Comment on Peter Cooper on ‘Fiscal Policy, Sectoral Balances and Financial Sustainability’. Plus Incompetent science, cooking the books, or brain-dead blather. Plus Peter Cooper is de facto arguing for profit increases of the business sector. Plus MMT has no sound scientific foundations. Plus Peter Cooper’s accounting identity is mathematically false.
AB ICYMI Profit theory in less than 5 minutes. Note on Barkley Rosser's ‘Comments on Profit and Capital’. See * below.
EV Just another cargo cultic exercise. Comment on the BoE conference on ‘Applications of Behavioural Economics, and Multiple Equilibrium Models to Macroeconomic Policy ’.
MNE Profit theory in less than 5 minutes. Comment on Bob on ‘Comments on Profit and Capital’ Plus
The extended Profit Law. Plus Description and graphics. Plus From the Cartesian coordinate system to the economic coordinate system. Plus Surplus and profit. Plus From nothing comes nothing, even economists understand this.
MNE Macrofounded labor market theory. Comment on Bill Mitchell on ‘The rise of the “private government”’. Plus Comments on Billyblog.
BB Macrofounded labor market theory. Comment on Bill Mitchell on ‘The rise of the “private government”’. See * below.
MNE The profit theory is false since Adam Smith. This is one of the greatest embarrassments in the history of the sciences. Note on Barkley Rosser's 'Comments on Profit and Capital'. Plus “They fail to capture the essence of a capitalist market economy.” Plus Link to summary.
AB The profit theory is false since Adam Smith. This is one of the greatest embarrassments in the history of the sciences. Note on Barkley Rosser's 'Comments on Profit and Capital'. See * below.
EV Marginal madness. Comment on Nick Rowe on ‘Equalising the twin markups in a monopolistically competitive macroeconomy’.
WCI Marginal madness. Comment on Nick Rowe on ‘Equalising the twin markups in a monopolistically competitive macroeconomy’. Plus Your treatment of profit is false.
MNE Marx, the moron. Comment on Michael Roberts on ‘The profitability of Marxian economics’.
MRB Marx, the moron. Comment on Michael Roberts on ‘The profitability of Marxian economics’. See * below.
SaM When institutions go awry. Comment on Chris Dillow on ‘Selecting for groupthink’.
LPS A new perspective on economics. Comment on Lars Syll on ‘A new perspective on microfoundations’. See * below.
EV Links to ‘Comments on Profit and Capital’. Plus
Economics is one of the worst scientific scandals in human history.
ES Economists: scientists or political clowns?
Comment on Barkley Rosser on ‘Comments on Profit and Capital’. Plus Neither orthodox nor heterodox economists qualify as scientists. Plus Overall profit is with the precision of two decimal places given by the macrofounded Profit Law. Plus ALL profit theories since Adam Smith are logically/empirically false. Plus Economists are since 140+ years on the way to the inescapable final delirium. Plus
The representative economist simply cannot get his head around the methodological imperative that economics has to be macrofounded. Plus A reliable and precise metric of the abysmal stupidity of the folks that populate the universities. Plus Who cannot handle three simple equations two conditions and the definition of total monetary profit is forever out of economics. Plus Marx asked the right question but gave the wrong answer. Plus Science is NOT a matter of opinion but of proof. Everything else is brain-dead blather. Plus Microfoundations have to be fully replaced by macrofoundations. Plus Who does not understand profit is OUT of economics. Plus All models are false because all economists are stupid. Plus Equality is NOT the same as equilibrium. Plus
PROVABLE false.
ES Profit and stupidity. Comment on Barkley Rosser on ‘Comments on Profit and Capital’.
EV Marx, the moron. Comment on Chris Dillow on ‘Why libertarians should read Marx’.
SaM Marx, the moron. Comment on Chris Dillow on ‘Why libertarians should read Marx’. Plus Why Libertarians and Marxians should get out of economics. Plus Economic texts have less scientific content than the Beatles’ Songbook.
MNE Marx, the moron. Comment on Chris Dillow on ‘Why libertarians should read Marx’. Plus Your profit theory is false.
ES The minimum wage debate: a showpiece of economists’s hereditary idiocy. Comment on Peter Dorman on ‘The Seattle Study: Increasing the Minimum Wage as a Way to Boost High Income Jobs’. Plus Refutation of unqualified blather. Plus Brilliant failures. Plus Addendum: Substandard thinkers.
ES The minimum wage debate: a showpiece of economists’s hereditary idiocy. Comment on Sandwichman on ‘Seattle Minimum Wage’. See * below.
MNE The end of political economics. Comment on David Ruccio on ‘This is the end—or is it?’.
RWER The end of political economics. Comment on David Ruccio on ‘This is the end—or is it?’. Plus
Brain-dead blatherers, gossipers, and agenda pushers.
EV Empiricism, or looking through the microscope at the universe. Comment on Mark Thoma on ‘An Empirical Turn in Economics Research’.
EV The end of political economics. Comment on Ravi Kanbur on ‘W. Arthur Lewis and the tradeoffs of economics and economists’.
ES and MNE Note on Sandwichman’s ‘Marshall's Magic Confidence-Wand’. See * below.
MNE Note on Lars Syll's 'Keynes & MMT'.
MNE Note on Lars Syll's 'What is a statistical model?'
ES Economics and the Fallacy of Insufficient Abstraction. Comment on Sandwichman on ‘”If There Is Any Such Thing”: Why read Hoxie on theory?’. See * below. Plus Éternel Retour de la pensée la plus lourde. See * below.
MNE Note on Barkley Rosser's 'Saudi Succession Shuffle'
ES The role of labor and business in a well-organized society. Comment on Sandwichman on ‘Hoxie on “Fixed Group Demand Theory” (the “lump of labor”)’. See * below.
ES Have we reached the bottom of gossip economics?
Comment on Barkley Rosser on ‘Saudi Succession Shuffle’.
EV Confused Confusers: How to Stop Thinking Like an Economist and Start Thinking Like a Scientist. Note on Dani Rodrik's 'Doing (and Teaching) Economics [Video]'
EV Attention: there are THREE types of inflation.
Comment on Simon Wren-Lewis on ‘UK monetary policy: you cannot be serious?’.
EV Rethinking the Phillips curve. Comment on Nick Bunker on ‘Is the Fed being misguided by the Phillips curve?’.
MM Attention: there are THREE types of inflation.
Comment on Simon Wren-Lewis on ‘UK monetary policy: you cannot be serious?’
LPS Morons on math. Comment Syll on ‘Simpson’s paradox’. See * below.
EVO The long genealogical tree of economic storytelling. Comment on Dániel Oláh on ‘The Amazing Arab Scholar Who Beat Adam Smith by Half a Millennium’. See * below.
EV Equilibrium and the violation of a fundamental principle of science. Comment on David Glasner on ‘Hayek and Rational Expectations’. Plus Equilibrium economics is one of the worst scientific blunders of all times.
MNE Equilibrium and the violation of a fundamental principle of science. Comment on David Glasner on ‘Correct Foresight, Perfect Foresight, and Intertemporal Equilibrium’. Plus Equilibrium economics is one of the worst scientific blunders of all times.
EV Economic bungee jumping without cord.
Comment on Simon Wren-Lewis on ‘Raising the inflation target’.
MM Economic bungee jumping without cord.
Comment on Simon Wren-Lewis on ‘Raising the inflation target’. Plus Expert madness.
RWER Note on Edward Fullbrook's 'The counter-intuitive problem.' See * below.
LPS How Heterodoxy got lost in the methodological woods. Comment on Lars Syll on ‘What kind of realist am I?’. See * below.
NOP Economics: 200+ years of scientific incompetence and fraud. Comment on Noah Smith on ‘Is economics a science?’ Plus The representative economist is trapped in the scientific coal-pit. Plus Economics is NOT a science. Plus Science is well-defined since 2000+ years.
EV Simpleminded losers. Comment on Paul Krugman on ‘Macroeconomics: The Simple and the Fancy’.
NYT Simpleminded losers. Comment on Paul Krugman on ‘Macroeconomics: The Simple and the Fancy’.
MNE Note on Dirk Ehnts's 'Why I am a horizontalist'.
MNE Note on Jean-Claude Worms's 'Science And The Entrepreneurial State'. Plus When science is properly organized it is highly profitable.
ES Needed: The Worst of the Worst of economics blogs. Comment on Barkley Rosser on ‘EconoSpeak In The Top 100 Economics Blogs’. Plus You are consistently on the false side of the true/false divide.
Plus Economics is NOT a science, and economists are NO scientists. Plus In science, empirical testing not futile blathering and stuttering LOL decides the matter. Plus NOTHING what is said and proposed and argued for or against by the representative economists on the economics blogs has a sound scientific foundation. Plus Economists cannot make two steps without falling over their own feet.
RWER Textbooks and the mental cloning of dumb economists. Comment on Lars Syll on ‘Economics textbooks transmogrifying truth — wages and unemployment’. See * below.
EV Think deeper. Comment on Bradford DeLong on ‘RETHINK 2%’.
BDL Think deeper. Comment on Bradford DeLong on ‘RETHINK 2%’.
LPS Textbooks and the mental cloning of dumb economists. Comment on Lars Syll on ‘Economics textbooks transmogrifying truth — wages and unemployment’. See * below.
EV Just another wreck. Comment on Paul Krugman on ‘Wrecking the Ship of State’
MNE MMT: No sound basis. Comment on Terry Sullivan on ‘Austerity Is A Sham: The Road to Resilience’.
EV The real problem with the economics Nobel.
Comment on ‘Nobel Laureates Give Advice to Young Economists’. Plus Neither Walrasianism, nor Keynesianism, nor Marxianism, nor Austrianism, can be accepted as science[s].
RWER Note on Lars Syll's '‘Cauchy logic’ in economics'. See * below.
EV Just revealed: IS-LM is dead since 80 years. Comment on Brad DeLong on ‘On the negative information revealed by Marvin Goodfriend’s “I don’t teach IS-LM”’.
BDL Just revealed: IS-LM is dead since 80 years. Comment on Brad DeLong on ‘On the negative information revealed by Marvin Goodfriend’s “I don’t teach IS-LM”’. See * below.
LPS Soap box economics. Comment on Lars Syll on ‘Labour’s manifesto — not continued austerity — is what the UK needs’. See * below.
LPS Note on Lars Syll's '‘Cauchy logic’ in economics.' See * below.
ES Banana economics. Comment on Barkley Rosser on ‘Trump Blows Up The Gulf Cooperation Council’.
EV Profit and distribution: a primer. Comment on Cecchetti & Schoenholtz on ‘Labor’s Declining Share: A Primer’.
MNE Hijackers, agenda pushers, PsySocs and other morons. Comment on Oleg Komlik on ‘Theodor Adorno on the division between economics and sociology’.
EV Equilibrium and the violation of a fundamental principle of science. Comment on David Glasner on ‘Correct Foresight, Perfect Foresight, and Intertemporal Equilibrium’.
UE Equilibrium and the violation of a fundamental principle of science. Comment on David Glasner on ‘Correct Foresight, Perfect Foresight, and Intertemporal Equilibrium’. See * below.
LPS Let Chicago economics rest in peace. Comment on Lars Syll on ‘Chicago-inspired methodology’. See * below.
RWER Post Keynesianism, too, is proto-scientific rubbish. Comment on Lars Syll on ‘What is Post Keynesian Economics?’ See * below.
LPS Post Keynesianism, too, is proto-scientific rubbish. Comment on Lars Syll on ‘What is Post Keynesian Economics?’ See * below.
ES Note on Peter Dorman's 'Pronoun Madness'. Plus
Standard economic theory will eventually disappear, no trace of it will remain in the universities.
EV Toward a non-Neanderthal employment policy.
Comment on Brad DeLong on ‘Why Is the FOMC So Certain the U.S. Is "Essentially at Full Employment"?’ Plus Why we are not yet at full employment. Plus
Brad DeLong and you are part of the incompetent crowd that reduces the economy to dust.
BDL Toward a non-Neanderthal employment policy.
Comment on Brad DeLong on ‘Why Is the FOMC So Certain the U.S. Is "Essentially at Full Employment"?’ Plus How to get out of the Keynesian Neanderthal. Plus What “economists have all learned, and many of us teach” is logically and empirically inconsistent proto-scientific rubbish.
MNE Post Keynesianism, science, and universal idiocy. Comment on Lars Syll on ‘What is Post Keynesian Economics?’ Plus Post Keynesianism, too, is proto-scientific rubbish.
MNE New macro-micro thinking about the labor market. Comment on Dean Baker on ‘Link Between Low Wages and Low Productivity Growth: High Wages Make Low Productivity Jobs Disappear’.
CEPR New macro-micro thinking about the labor market. Comment on Dean Baker on ‘Link Between Low Wages and Low Productivity Growth: High Wages Make Low Productivity Jobs Disappear’. See * below.
EV Note on Cecchetti & Schoenholtz: 'The Phillips Curve: A Primer.' Reply to reason: Your blather does not contribute anything to the rectification of the provable false standard emplyoment theory.
RWER Needed: the Top Ten of substandard economics blogs. Comment on Editor on ‘The 10 most viewed RWER Blog posts in 2016.’ See * below.
MM Consensus, buddy consensus, scientific consensus, or what? Comment on Simon Wren-Lewis on ‘Still not getting it after all these years’.
ES First Lecture in New Economic Thinking.
Comment on Barkley Rosser/Sandwichman on ‘Fighting Zombies with Zombies’. See * below. Plus
Barkley Rosser and the other Trump University economists have never read/understood Mill. See * below. Plus The three career paths of the economist are currently: (i) moron, (ii) fraudster, or (iii) paradigm shifter. See * below.
ES What is the fuss with New Economic Thinking all about? Comment on Barkley Rosser on ‘Fighting Zombies with Zombies’. See * below.
ES Productivity and the zombie apocalypse.
Comment on Sandwichman on ‘Fighting Zombies with Zombies’. See * below. Plus ALL equilibrium models fly out of the window. See * below.
ES Full employment: thinking like the macro-boss.
Comment on Sandwichman on ‘Output Optimum and the Roller Coaster of Immiseration’. See * below. Plus Time to stop the pollution of the scientific atmosphere. See * below.
RWER Math, Einstein, and the bottomless incompetence of economists. Comment on Lars Syll on ‘The laws of mathematics and conomics’. Plus The true theory is the humanly best mental representation of reality. See * below. Plus What is missing in the so-called social sciences is scientific competence. See * below.
MNE Economics is NOT about Human Nature but the economic system. Comment on Bill Mitchell on ‘Humans are intrinsically anti neo-liberal’. Plus The PsySoc-Ban.
BB Economics is NOT about Human Nature but the economic system. Comment on Bill Mitchell on ‘Humans are intrinsically anti neo-liberal’. See * below.
ES Getting out of the economics swamp. Comment on Barkley Rosser on Noah Smith on ‘Vast literatures as mud moats’. Plus The ambition of science is to drain the swamp.
NOP Getting out of the economics swamp. Comment on Noah Smith on ‘Vast literatures as mud moats’.
Blog-References 16
RWER The equilibrium of idiocy. Comment on Peter Radford on ‘Equilibrium: a weed to pull’. See * below.
LPS Math, Einstein, and the bottomless incompetence of economists. Comment on Lars Syll on ‘The laws of mathematics and economics’. Plus
From the First Economic Law follows the Profit Law and the testable employment equation.
EV Smart young empirically-minded economists: another vain hope. Comment on Noah Smith on ‘How should theory and evidence relate to each other?’.
LPS Smart young empirically-minded economists: another vain hope. Comment on Lars Syll on ‘Structural econometrics’. See * below.
NOP Smart young empirically-minded economists: another vain hope. Comment on Noah Smith on ‘How should theory and evidence relate to each other?’. Plus Blanchard, too, is in deep methodological confusion.
ES Economists ― blinded by political balloons.
Comment on Barkley Rosser on ‘Coming Home To America’. Plus As the iconic businessman/ entertainer D. J. Trump likes to tweet: SAD! Plus
Nobody applies the concepts of equilibrium or partial profit maximization any more. Plus Both microfounded Walrasian economics and macrofounded Keynesian economics is proto-scientific rubbish.
LPS Make econ true. Comment on Lars Syll on ‘Does truth matter in economics?’. Plus Economics as we know it is one of the most annoying constructs since the ancient Greeks invented science. See * below.
ES Whatever this is, it is NOT economics. Note on Sandwichman's 'Down the Rabbit Hole with Trump FBI Fanboy, Jimmy Kallstrom'.
EV What is so great about cargo cult science? or, How economists learned to stop worrying about failure. Comment on David Glasner on ‘What’s so Great about Science? or, How I Learned to Stop Worrying and Love Metaphysics’.
UE What is so great about cargo cult science? or, How economists learned to stop worrying about failure. Comment on David Glasner on ‘What’s so Great about Science? or, How I Learned to Stop Worrying and Love Metaphysics’. See * below.
LPS The tragicomedy of Heterodoxy. Comment on Lars Syll on ‘The tragedy of pseudoscientific and self-defeatingly arrogant economics’. See * below.
RWER The tragicomedy of Heterodoxy. Comment on Lars Syll on ‘The tragedy of pseudoscientific and self-defeatingly arrogant economics’. See * below.
ES Economics’ lack of scientific legitimacy.
Comment on Peter Dorman on ‘Against the Subjective Theory of Knowledge’.
EV Austerity and the total disconnect between economic policy and science. Comment on Simon Wren-Lewis on ‘Underestimating the impact of austerity’.
MM Austerity and the total disconnect between economic policy and science. Comment on Simon Wren-Lewis on ‘Underestimating the impact of austerity’.
RWER Does Asad Zaman fly with POL or SCI Airlines?
Comment on Asad Zaman on ‘Meta-theory and pluralism in the methodology of Polanyi’.
RWER Failed critique of failed economics.
Comment on Lars Syll on ‘The spectacular failure of DSGE models’. See * below.
RWER-WEA Does Asad Zaman fly with POL or SCI Airlines? Comment on Asad Zaman on ‘Meta-theory and pluralism in the methodology of Polanyi’. See * below.
MNE Does Asad Zaman fly with POL or SCI Airlines?
Comment on Asad Zaman on ‘Meta-theory and pluralism in the methodology of Polanyi’.
ITE Feynman Integrity, fake science and the econoblogosphere. Comment on Jason Smith on ‘You’re wrong because I define it differently’. See * below.
LPS True macrofoundations: the reset of economics.
Comment on Lars Syll on ‘Axiomatic variation is not equivalent to genuine plurality’. See * below.
MNE True macrofoundations: the reset of economics.
Final comment on ‘The reason for the proliferation of macro models?’
RWER Ricardian vice and Keynesian confusedness.
Comment on Lars Syll on ‘The Ricardian Vice’. See * below. See * below.
MNE Mathiness is NOT the problem — scientific incompetence is. Comment on Jason Smith on ‘Mathiness in modern monetary theory’. Plus The NATURAL math of economics is the elementary math of accounting. Plus The problem of MMT is NOT mathiness but insufficient math competence. Plus
The future of economics: True macrofoundations.
ITE Where MMT got macro wrong. Note on Jason Smith's 'Mathiness in modern monetary theory.' See * below.
ITE Macro imbeciles. Note on Jason Smith's ‘The reason for the proliferation of macro models?’ See * below.
MNE Macro imbeciles. Comment on Jason Smith on ‘The reason for the proliferation of macro models?’
Plus The interdependence of economic law and history. Plus Bring scientific knowledge to the table or hit the road. Plus Economics is a failed science and economists are incompetent scientists. Plus Replace Wikipedia’s outdated definition of Law with the more general notion of Invariance. Plus
You have NOTHING whatsoever to contribute to economic policy. Plus True macrofoundations: the reset of economics. Plus The representative economist is lost in the wood.
MNE Complexity and stupidity. Comment on Peter Radford on ‘Complex Simplicity’. Plus How to deal with complexity.
LPS Failed critique of failed economics. Comment on Lars Syll on ‘The spectacular failure of DSGE models’. See * below.
LPS Orthodox AND heterodox economics is brain-dead proto-scientific blather. Note on David Suzuki's 'Conventional economics — a severe form of brain damage'. See * below.
RWER The stupidity of Heterodoxy is the life insurance of Orthodoxy. Comment on Asad Zaman on ‘Economics is a form of brain damage’. See * below.
ES Economics ― a doctor worse than the disease.
Comment on Barkley Rosser on ‘So, let me play a game with you’ as an intermezzo of ‘Is Authoritarian Nationalism Mostly A Rural Phenomenon?’. Plus Game over, Barkley Rosser. Plus Retire before you are retired. Plus Economists fail to capture the essence of a capitalist market economy. Plus The whole of standard economics is false because the neo-Walrasian axioms are false. Plus True macrofoundations: the reset of economics. Final comment on Barkley Rosser. Plus I wonder whether you got your degrees from Trump University.
ITE IS-LM ― a crash course for EconoPhysicists.
Comment on Jason Smith on ‘The ISLM model’. Plus
A theory has to satisfy TWO criteria ― material AND formal consistency. See * below.
ES The nullification of political economics. Note on Barkley Rosser's 'Is Authoritarian Nationalism Mostly A Rural Phenomenon?' Plus Marx never figured out what profit is.
LPS The stupidity of Heterodoxy is the life insurance of Orthodoxy. Comment on Lars Syll on ‘The dangers of neglecting methodology’. See * below.
ES Whatever this is, it is NOT economics. Note on Barkley Rosser's 'Financial Times Messes Up On Italy' Plus Let's return from the sad state of Italy to the sad state of economics.
ES Oh no, not that! Note on Barkley Rosser's 'Poland: "What Are These People Complaining About?"'
ITE What genuine scientists believe about economics. Comment on Jason Smith on ‘Falsehoods scientists believe about economics’. See * below.
LPS Ricardian vice and Keynesian confusedness.
Comment on Lars Syll on ‘The Ricardian Vice’. See * below.
MNE Hayek and other informationally retarded proto-economists. Comment on Jason Smith on ‘Should the left engage with neoclassical economics?’. Plus Jason Smith cannot be invited or admitted to any economics debate whatsoever. Plus
Political economics is scientifically worthless since Adam Smith. Plus Economists have NOTHING worthwhile to say. Plus Economics is a science and deals exclusively with true/false and NOT with left/right.
ITE Hayek and other informationally retarded proto-economists. Comment on Jason Smith on ‘Should the left engage with neoclassical economics?’. See * below.
EV A new curriculum for swampies? Comment on Brad DeLong on ‘What Can Be Done to Improve the Episteme of Economics?’. See * below.
UE The Krugman curse. Comment on David Glasner on ‘A Tale of Three Posts’. See * below.
RWER Economics is NOT a social science but a system science. Note on Asad Zaman. See * below.
ES Economics and encephalomalacia. Comment on Barkley Rosser on ‘Turkey And The Trend To Authoritarianism’.
LPS Ditch scientific incompetence! Comment on Lars Syll on ‘Ditch physics envy!’. Plus Economics — the Forrest Gump of science. See * below.
MNE Where MMT got macro wrong. Comment on Bill Mitchell on ‘MMT is what is, not what might be’. Plus MMT switched to macrofoundations but got it wrong. Plus Business profit is the mirror image of government deficit. Plus It follows ALL from the structural/systemic/macro axiom set. Plus MMTers, too, messed up macrofoundations. Plus Economist do NOT have the true theory. Plus Theoretical economics has to proceed top-down. Plus Economists have not enough brain to understand how the economy works.
BB Where MMT got macro wrong. Comment on Bill Mitchell on ‘MMT is what is, not what might be’. See * below.
EV Media-fake-farce-fraud-storytelling macro.
Comment on Simon Wren-Lewis on ‘GE2017: Why economic facts will be ignored once again’.
NOP What is REALLY wrong with macro. Comment on Noah Smith on ‘Ricardo Reis defends macro’.
MM Media-fake-farce-fraud-storytelling macro.
Comment on Simon Wren-Lewis on ‘GE2017: Why economic facts will be ignored once again’. See * below.
RWER How Heterodoxy became the venue for science’s scum. Comment on Edward Fullbrook on ‘Why a global disaster that could easily have been prevented took place’. See * below.
NOP Toward the New Academy. Comment on Noah Smith on ‘Can rationalist communities still change the world?’. See * below.
RWER Economics — from storytelling to science.
Comment on Lars Syll on ‘Economics — an empty and inexact science’. See * below.
ES How to overcome the manifest silliness of Econ 101 and save the economy. Comment on Noah Smith on ‘Why the 101 model doesn’t work for labor markets’. Plus One of the most annoying constructs in the history of sciences. Plus Econ 101 is dead.
EV How to overcome the manifest silliness of Econ 101 and save the economy. Comment on Noah Smith on ‘Why the 101 model doesn’t work for labor markets’. See * below.
MNE How to overcome the manifest silliness of Econ 101 and save the economy. Comment on Noah Smith on ‘Why the 101 model doesn’t work for labor markets’. Plus When Ricardo Saw Profit, He Called It Rent.
NOP How to overcome the manifest silliness of Econ 101 and save the economy. Comment on Noah Smith on ‘Why the 101 model doesn’t work for labor markets’. Plus “Every model is unrealistic”. Plus Econ 101 is out of science.
LPS The thinking economist. Note on Lars Syll. See * below.
LPS Economics — from storytelling to science.
Comment on Lars Syll on ‘Economics — an empty and inexact science’. See * below.
MNE Economics — from storytelling to science.
Comment on Lars Syll on ‘Economics — an empty and inexact science’.
RWER What is REALLY wrong with macro. Comment on Lars Syll on ‘Yes — there is something really wrong with macroeconomics’. See * below.
NOP Economists’ proto-scientific shell games.
Comment on Noah Smith on ‘Can rationalist communities still change the world?’.
LPS The Law of Economists’ Increasing Stupidity. Note on Lars Syll. See * below.
MNE The Law of Economists’ Increasing Stupidity.
Comment on Matias Vernengo on ‘Economic Regularities and "Laws" and the Riksbank Prize too’. Plus Profit for Marxists. Plus There are NO laws of human behavior/nature/action. Plus The economic 'God Equation'. Plus The dynamical next thing in economics is the paradigm shift. Plus How law and history fit consistently together. Plus Time to get all proto-scientific folks out of economics. Plus It’s merely confused political blather. Plus A Critique of Political Economy. Plus What is the true theory good for? Plus Skiddoo! Plus Why economics is a failed science.
EV Redefining economics. Comment on Simon Wren-Lewis on ‘Economics is an inexact science’. See * below.
MNE Economics is NO social science but a system science. Note on Matias Vernengo.
MM Redefining economics. Comment on Simon Wren-Lewis on ‘Economics is an inexact science’.
EV What is REALLY wrong with macro. Comment on Lars Syll on ‘Yes — there is something really wrong with macroeconomics’. See * below.
LPS What is REALLY wrong with macro. Comment on Lars Syll on ‘Yes — there is something really wrong with macroeconomics’. See * below.
EV Review of the economics troops. Comment on Noah Smith on ‘Keynesian Economics Is Hot Again’.
RWER The universal theory of employment. Comment on Lars Syll on ‘Lowering wages is not the solution’. See * below.
EV From the pluralism of false models to the true economic theory. Comment on Olivier Blanchard on ‘On the Need for (At Least) Five Classes of Macro Models’. See * below.
BLO Review of the economics troops. Comment on Noah Smith on ‘Keynesian Economics Is Hot Again’.
RWER Keynes saw the problems but did not solve them. Note on Asad Zaman/2. See * below.
EV How Arrow pushed economics over the cliff.
Comment on Steven Durlauf on ‘Kenneth Arrow and the golden age of economic theory’. Plus GET and its acceptance by economists is one of the greatest embarrassments in the history of science.
RWER Keynes saw the problems but did not solve them. Note on Asad Zaman. See * below.
EV Economists ― medics or barber surgeons?
Comment on Simon Wren-Lewis on ‘Economists as medics’. See * below.
MM Economists ― medics or barber surgeons?
Comment on Simon Wren-Lewis on ‘Economists as medics’.
LPS Keynes saw the problems but did not solve them. Comment on Lars Syll on ‘Sticky wages is not the problem!’. See * below.
RWER Mass unemployment: The joint failure of orthodox and heterodox economics. Note on Asad Zaman. See * below.
MNE Economics and the high art of kicking the can down the road. Comment on Chris Dillow on ‘Wages & Productivity’.
EV Economics and the high art of kicking the can down the road. Comment on Chris Dillow on ‘Wages & Productivity’. See * below.
SaM Economics and the high art of kicking the can down the road. Comment on Chris Dillow on ‘Wages & Productivity’. See * below.
RWER Methodology for heterodox one-cell-brainers.
Comment on Lars Syll on ‘Probability and economics’. See * below.
MNE The fundamental problem of economics: scientific incompetence aka stupidity. Comment on Dirk Ehnts on ‘Structuralist Macroeconomics’.
E101 The fundamental problem of economics: scientific incompetence aka stupidity. Comment on Dirk Ehnts on ‘Structuralist Macroeconomics’. See * below.
LPS Note on mass unemployment and austerity. See * below.
EV Economic policy guidance NEVER had sound scientific foundations. Comment on Brad DeLong on ‘Why Were Economists as a Group as Useless Over 2010-2014 as Over 1929-1935?’.
BDL Economic policy guidance NEVER had sound scientific foundations. Comment on Brad DeLong on ‘Why Were Economists as a Group as Useless Over 2010-2014 as Over 1929-1935?’. See * below.
LPS The economist as moralist. Comment on Lars Syll on ‘The limits of formal models’. See * below.
LPS Methodology for heterodox one-cell-brainers.
Comment on Lars Syll on ‘Probability and economics’. See * below.
LPS Economists’ eternal problem with methodology.
Comment on Lars Syll on ‘The problem with unjustified assumptions’. See * below.
MM Austerity and the idiocy of political economists.
Comment on Simon Wren-Lewis on ‘On criticising the existence of mainstream economics’.
ES The non-existence of economics. Comment on Simon Wren-Lewis on ‘On criticising the existence of mainstream economics’. Plus Barkley Rosser has never grasped it and never will. Plus Laissez-faire is a petitio principii. Plus The market economy is inherently unstable.
EV The non-existence of economics. Comment on Simon Wren-Lewis on ‘On criticising the existence of mainstream economics’.
LPS The non-existence of economics. Comment on Lars Syll on Simon Wren-Lewis on ‘On criticising the existence of mainstream economics’. See * below.
MM The non-existence of economics. Comment on Simon Wren-Lewis on ‘On criticising the existence of mainstream economics’. Plus Stop rationalizing and justifying proto-scientific methodological rubbish. Comment on Blissex. Plus The plural may well be a little excessive.
RWER Lars Syll and the consistency of methodological moronism. Comment on Lars Syll on ‘Your model is consistent? So what!’. See * below.
MM Economics and truth. Comment on Simon Wren-Lewis on ‘Post-truth and propaganda’.
RWER How economists shoot themselves non-stop in the methodological foot. Comment on Lars Syll on ‘The man who crushed the mathematical dream’. See * below.
LPS Heterodoxy’s chronic thinking incapacity.
Comment on Lars Syll on ‘Analogue economies and reality’. See * below.
EV Pre-truth and post-truth in economics. Comment on Peter Dorman on ‘Fifty Shades of Yellow? Post-Truth Then and Now’. See * below.
ES Pre-truth and post-truth in economics.
Comment on Peter Dorman on ‘Fifty Shades of Yellow? Post-Truth Then and Now’. Plus "A satisfactory theory of profits is still elusive."
LPS How economists shoot themselves non-stop in the methodological foot. Comment on Lars Syll on ‘The man who crushed the mathematical dream’. See * below.
INET New economic thinking = old political fake.
Comment on Douglass Carmichael on ‘The Mechanical Turn in Economics and Its Consequences’
ES Bad economics, futile critique, and illusive new thinking. Comment on Peter Dorman on ‘Review of Economism: Bad Economics and the Rise of Inequality by James Kwak’.
MM Endtime for soap box economists. Comment on Simon Wren-Lewis on ‘Labour MPs are keeping Corbyn in power’.
NOP The thinking economist. Comment on Noah Smith on ‘Beware of "thinking like an economist"’
EV Practical recommendations for economics methodology. Comment on Noah Smith on ‘How to Restore Faith in Economics’ and ‘Misuses of empirical econ’. See * below.
EV Humble pie economics: the next fake. Comment on Peter Dorman on ‘Where Should We Put Economic Empiricism on the Hubris-Humility Spectrum?’. See * below.
UE Economics ― from attention and reputation management to science. Comment on David Glasner on ‘Samuelson Rules the Seas’. See * below.
ES Humble pie economics: the next fake. Comment on Peter Dorman on ‘Where Should We Put Economic Empiricism on the Hubris-Humility Spectrum?’
MNE Between cargo cult, farce, and fraud.
Comment on Jason Smith on ‘How do you know if you’re researching in bad faith?’. Plus Post Keynesianism, too, is axiomatically false.
RWER Rethinking Distribution. Comment on David Ruccio on ‘Changing the story to hide the problem’. See * below.
EV Note on 'The White House is rife with beliefs that are wholly disconnected from reality.' See * below.
RWER How Arrow pushed economics over the cliff.
Comment on Lars Syll on ‘Kenneth Arrow (1921-2017)’ Plus John Stuart Mill’s wisdom and General Equilibrium Theory. See * below.
LPS From false micro to true macro. Note on Lars Syll on axiomatization. See * below.
UE The labor market theory is false since Smith, Ricardo, Malthus et al. Note on David Glasner on 'Cyclical versus Secular Causes of Stagnation'. See * below.
RWER Where economics went wrong. Comment on Lars Syll on ‘Where modern economics went wrong’.
LPS Heterodox macro, too, is BS. Note on Lars Syll on 'Modern macroeconomics — a walk down a blind alley.' See * below.
LPS In economics, the scientific breakthrough is always just around the next corner. Comment on Noah Smith on ‘Anti-empiricism is not humility’. See * below.
MNE In economics, the scientific breakthrough is always just around the next corner. Comment on Noah Smith on ‘Anti-empiricism is not humility’.
EV In economics, the scientific breakthrough is always just around the next corner. Comment on Noah Smith on ‘Anti-empiricism is not humility’. See * below.
NOP In economics, the scientific breakthrough is always just around the next corner. Comment on Noah Smith on ‘Anti-empiricism is not humility’. Plus Practical recommendations for economics methodology.
MNE Economics is NOT a misunderstanding but cargo cultic crap. Comment on Mark Buchanan on ‘The Misunderstanding at the Core of Economics’.
LPS Where economics went wrong. Comment on Lars Syll on ‘Where modern economics went wrong’. See * below.
EV Economics is NOT a misunderstanding but cargo cultic crap. Comment on Mark Buchanan on ‘The Misunderstanding at the Core of Economics’. Plus Economics is NOT a science of human behavior. See * below.
BLO Economics is NOT a misunderstanding but cargo cultic crap. Comment on Mark Buchanan on ‘The Misunderstanding at the Core of Economics’. See * below.
RWER Economics between mathiness, dyscalculia and idiocy. Comment on Lars Syll on ‘Economics — confusing mathematical masturbation with intercourse between research and reality’. See * below.
SaM Note on Chris Dillow; On salient identities.
See * below.
EV There is no scientific elite in economics.
Comment on Justin Fox on ‘Science Is Elitist for a Reason’.
BLO There is no scientific elite in economics.
Comment on Justin Fox on ‘Science Is Elitist for a Reason’. See * below.
EV A vacuous analysis of profits and productivity. Comment on Dietrich Vollrath on ‘Profits and Productivity’.
DV A vacuous analysis of profits and productivity. Comment on Dietrich Vollrath on ‘Profits and Productivity’. See * below.
LPS Economics between mathiness, dyscalculia and idiocy. Comment on Lars Syll on ‘Economics — confusing mathematical masturbation with intercourse between research and reality’. See * below.
MNE NAIRU ― letting one more nonentity go.
Comment on Lars Syll on ‘More NAIRU bashing’. Plus
Economic theory and policy have to be kept apart. Plus Three interlocking blunders of New Keynesian models.
LPS NAIRU ― letting one more nonentity go. Comment on Lars Syll on ‘More NAIRU bashing’. See * below.
EV Reference to 'The final word on NAIRU'. See * below.
To be continued on Onblog Archive_3
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