The Radford Free Press – Page 117 – All life is problem solving.

Zero Shocker

January 19, 2015

What with the World Economic Forum folks wading in on inequality ahead of the annual Davos shindig for the great and beautiful, here’s what Oxfam has to say: “Global wealth is increasingly being concentrated in the hands of a small wealthy elite … These wealthy individuals have generated and sustained their vast riches through their […]

Economics / economic theory, microeconomics, The Economist /

Economics Is What?

January 11, 2015

This week’s Economist magazine includes an article designed to uplift the hearts of depressed economists everywhere. It devotes a whole page under the headline “Meet the market shapers”, to a catalog of what it regards as cutting edge examples of economists doing useful stuff at the ‘micro’ level. By micro in these cases the Economist means […]

Economics / economic theory, Frank Knight, inequality, Robert Lucas, Shackle, uncertainty /

More Uncertainty

January 8, 2015

Actually, now I think more about it, how can we ever have ‘more’ uncertainty? The massiveness of our lack of knowledge about the future surely reduces that word ‘more’ to trivial irrelevance. As the wise G.L.S. Shackle taught us: anything beyond about ten years into the future is so opaque as not to exist at […]

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