The Radford Free Press – Page 19 – All life is problem solving.

Economics, Politics / capitalism, central banks, democracy, Madison, neoliberalism /

Democracy? Surely Not!

January 3, 2022

Let’s stir things up for the New Year by continuing with one of my recent themes. A quote from an opinion piece in the NYT this morning [January 3rd]: “James Madison boasted that the Constitution achieved “the total exclusion of the people, in their collective capacity.” Its elaborate political mechanics reflect the elite dislike and […]

Economics / central banks, economic theory, monetary policy /

Confusion Reigns

December 28, 2021

What on earth were they doing? Rocked but undaunted by the great financial crisis the orthodoxy of our central banks survived to fight another day. The system had been saved. That no one saw the onrushing crisis is still being debated. Of course some people saw it coming. Anyone with a scintilla of understanding of […]

Economics / Brian Arthur, Daron Acemoglu, shareholder value, supply chains, technology, theory of the firm /

Domain Shift

December 7, 2021

Brian Arthur tells us that technology most often advances in the form of domain shifts. In his narrative technologies cluster in related groups he calls domains. So individual technologies might advance through a tweak here or there, but the economy advances through a shift from one cluster of technologies to another. I like this idea. […]

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