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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.

 

Back to Onblog

Older page Archive_3

 

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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