Category Archives: Science and the scientific method

Nathan Tankus: News Flash – North Korea is a Rational Actor

By Nathan Tankus, a student and research assistant at the University of Ottawa. You can follow him on Twitter at @NathanTankus (https://twitter.com/NathanTankus)

Sometimes debates that surround a country’s policies are about whether that country’s officials are taking the correct course of action. Other times, however, when a country is perceived as a virulent enemy, the attitude forms that their actions aren’t just wrong, they are irrational and crazy (it’s telling that in a society obsessed with rationality and the “rationality” of the market, our worst insult is “irrational”). As a result, it is radical and disreputable to argue that these countries are pursing their objectives in rational manner. North Korea is one of the best examples of this dynamic the post-war period has to offer. As such, I think it’s time to offer a disreputable opinion of North Korea.

Philip Pilkington: Mistaking Men for Machines – How Neoclassical Economics Relies on Computer Science to Misunderstand Human Communication

By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil

We have a lot to be thankful for today that we owe to Alan Turing – who is generally recognised as among the first, if not the first, computer scientist. But, on the other hand, we also have a lot that we can trace back to Turing that we should be in no way grateful for as it has filled our minds with stupidities and our universities with people talking nonsense. Without detracting from Turing’s undoubtedly important achievements we here focus on the latter and how some of Turing’s ideas came to infect the human sciences in general and economics in particular.

Philip Pilkington: The Degenerating Discourse of Mainstream Economics

By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil

The blogoshpere includes quite a few mainstream academic economic blogs. Most of the “debate” on these blogs, together with that in the mainstream academic departments that they mirror, focuses issues of aggregation; issues that have become central to the research paradigm of mainstream economics, which has been falling to ever new lows since the 1970s Rational Expectations “Revolution”.

Yanis Varoufakis: Will the Real Economy Rebound, Following Wall Street’s Resuscitation? And What of Europe?

By Yanis Varoufakis, a professor of economics at the University of Athens. Cross posted from his blog

Another Spanish newspaper, El Confidencial, were kind enough to interview me on the global and European crisis, on the occasion of the Global Minotaur‘s Spanish translation-edition. Here is the interview, in English (the actual article will appear in Spanish, of course). Read on…

Cathy O’Neil: Why Nate Silver is Not Just Wrong, but Maliciously Wrong

By Cathy O’Neil, a data scientist. Cross posted from mathbabe

I just finished reading Nate Silver’s newish book, The Signal and the Noise: Why so many predictions fail – but some don’t. I have major problems with this book and what it claims to explain. In fact, I’m angry.

Philip Pilkington: Economics as Machine – The Nature and Folly of the Forecasters

By Philip Pilkington, a writer and research assistant at Kingston University in London. You can follow him on Twitter @pilkingtonphil

Too large a proportion of recent “mathematical” economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.

– John Maynard Keynes

How the Koch Brothers Manipulate Climate Change Studies

By Joao Peixe. Cross posted from OilPrice

The Koch brothers, Charles and David, are the billionaire owners of Koch Industries, and two of the most obstinate climate change deniers out there.

Cathy O’Neil: Support Naked Capitalism

By Cathy O’Neil, a data scientist and member of the Occupy Wall Street Alternative Banking Group who blogs at mathbabe

Being a quantitative, experiment-minded person, I’ve decided to go about helping Yves Smith raise funds for Naked Capitalism using the scientific approach.

“The Drugs Don’t Work”: How the Medical-Industrial Complex Systematically Suppresses Negative Studies

We’ve written a lot about the scientism of mainstream economics, both here and in ECONNED, and how these trappings have let the discipline continue to have a special seat at the policy table despite ample evidence of its failure. As bad as this is, it pales in comparison to the overt corruption of science at work in the drug arena. Although this issue comes to light from time to time, often in the context of litigation, the lay public is largely ignorant of how systematic and pervasive the efforts are to undermine good research practice in order to foist more, expensive, and sometimes dangerous drugs onto patients.

New Study Finds “Severe Toxic Effects” of Pervasively Used Monsanto Herbicide Roundup and Roundup Ready GM Corn (Updated)

Although I generally refrain from posting on Big Ag and relegate the topic to Links, I have a special interest in Monsanto. Last year, I had wanted to devise a list or ranking of top predatory companies, but could not find a way to make the tally sufficiently objective to be as useful in calling them out as it ought to be. Nevertheless, no matter how many ways I looked at the issue, it was clear that any ranking would put Monsanto as number 1.

Exchange Rates and Modern Trade Theory: An Interview with John Harvey

John Harvey is Professor of Economics at Texas Christian University. He blogs at Forbes and is the author of the book ‘Currencies, Capital Flows and Crises: A Post-Keynesian Analysis of Exchange Rate Determination’

Interview conducted by Philip Pilkington

Philip Pilkington: Your book seeks to outline an alternative theory of what determines exchange rates in our world today.