The Radford Free Press – Page 42 – All life is problem solving.

Economics / business school, capitalism, democracy, Eeckhout, inflation, market power, oligopoly, wages /

Power Shifts, or Not?

June 9, 2021

Power can flummox even the best economist. A typical explanation of events in an economy makes scant reference to the way in which power distorts the wondrous smooth motions that so obsess the discipline. It’s almost as if human relationships don’t exist in those wonderful models they are all so proud of. For the rest […]

Economics / Brynjolfsson, capitalism, democracy, Krugman, Robert Solow, technology /

Where Are We Going?

May 26, 2021

Paul Krugman has been rightly skeptical about cryptocurrencies lately. The extraordinary volatility in the price of Bitcoin, for example, has brought a bout of crypto mania to the fore in both the media and the marketplace. And, as seems usual, various regulators around the world are arriving at the party about a decade after the […]

Economics / capitalism, democracy, Keynes, knowledge, technology /

Regime Change — Technology Style

May 5, 2021

I have mentioned many times here that one of the ways in which economics has ventured astray is in its selection of capital and labor as the core constituents of production. These are, to me, political and not economic quantities. They are, at best, an approximation of reality and the farther we venture from the […]

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