The Radford Free Press – Page 29 – All life is problem solving.

Economics / economic theory, Economics, General equilibrium, Hutton, Philip George, real world economics /

We Need Our Hutton

September 21, 2022

This caught my eye: “Debreu noted in his Nobel Prize lecture that the success of the mathematization of economic theory depended “on the fact that the commodity space has the structure of a real vector space”. We have shown that this is incorrect. The “price vector” is not a vector, and GET [General Equilibrium Theory] […]

Economics / economic theory, Economics, economics education, ethics /

The Price of Economics

September 20, 2022

Thank you Mariano Torras. You said the following in a letter to the Financial Times: “I would venture that there is a professional motive for perpetuating — through the use of elegant and abstract models — the fantasy that economics is a science. The prestige, the stature and influence that such a myth permits is undeniable. Yet, […]

Commentary / capital, democracy, financial literacy, stock buybacks /

Share Buybacks — Again?

September 7, 2022

What isn’t said is often more telling than what is. The silence denotes either a disrespect for thorough analysis or an ignorance of issues beyond the ken of the speaker. Then, of course, a third option arises: that those issues are an embarrassment to the point being made and are thus best left unmentioned. For […]

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