The Radford Free Press – Page 128 – All life is problem solving.

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 […]

Economics / economic theory, economics education, history of economics /

Economic Ignorance?

March 2, 2015

Ha-Joon Chang nails it. But I wish he hadn’t. You see, I agree with his analysis of the inverse nature of status within the economics profession. As a useful general rule the more notable you are within the profession the less you know about the economy. This is a result of the perverse nature of […]

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