The Radford Free Press – Page 110 – All life is problem solving.

Efficient Allocations?

March 25, 2015

Willford King has written: “It is easy to find a man in almost any line of employment who is twice as efficient as another employee, but it is very rare to find one who is ten times as efficient. It is common, however, to see one man possessing not ten times but a thousand times the wealth […]

Economics / Arrow, Debreu, economic theory, General equilibrium, Hicks, Keynes /

Ideas That Must Be Forgotten

March 17, 2015

Much of what we are told as being advances in economics are diversions or delusions that serve only to trap us in a cul-de-sac. Sometimes that becomes a very long road to nowhere. Sometimes, it seems, economics will never return to being about actual economies, but will always be doomed to stay the plaything of […]

Economics / economic theory /

Where’s the Structure?

March 5, 2015

In its long search for the illusion of equilibrium economics has had to barter away one aspect of reality after another. Driven by its desire to unearth laws that explain the presence of that illusion economists have long ago lost contact with the grittiness of actual economies. They prefer the pristine and simplified sanctuary of […]

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