The Radford Free Press – Page 85 – All life is problem solving.

Economics / economic theory, growth, Robert Solow, Triangle Framework /

Tectonics and Growth

January 4, 2017

My wife is reading Kahneman’s “Thinking Fast and Slow”, somewhere in which he relates his reaction when he first came across the bedrock of mainstream economics: rational microeconomic behavior. I must admit I had a very similar reaction. The description of human behavior that underpins modern economics is so bizarre that my first thought was that it […]

Economics, Politics / capitalism, democracy, economic policy, economic theory, gig-economy, growth, oligarchs, plutocracy, Republicans /

The Market Turn

January 2, 2017

I am going to be writing an extensive review of Avner Offer and Gabriel Söderberg’s excellent book: “The Nobel Factor” in the near future. Meanwhile allow me to share a a couple of early comments because they bear heavily on how we all approach the Trump administration. Offer and Söderberg clarify the circumstances behind the […]

Economics / economic theory, Friedman, Hayek /

The Naivety of Economics

January 2, 2017

Economics plays a large part in the determination of policy and thus has an impact on our lives way disproportionate to its accomplishments. Because we are about to enter a period of great uncertainty that many of you express deep concern over, and because economic policy looms large within that concern, some of you ask […]