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Open Ended [A Note to Myself]

One of the major reasons, perhaps the major reason, economics is oftentimes irrelevant to our understanding of economies is that it fails to notice a rather salient fact: economies have no end. They have no beginning either. Or, rather, the choice of an ending or a beginning are merely arbitrary selections by an analyst needing […]

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So Wrong

Jonathan Rauch has just written an absurd article for The Atlantic magazine. It isn’t often that I say such things – well except every time I talk about rational expectations, but that’s just me – but his entire thesis reeks of defeatist nonsense, is anti-democratic, and antediluvian to boot. What’s worse, his argument builds from a […]

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