What is the Bullshit Economy?
Establishing some first principles of the bullshit economy.
Read more...Category Archives: The dismal science
The ‘Roaring Twenties’ and Covid Recovery: Revisiting the Evidence for Europe
Are the Roaring Twenties an analogue for what a post Covid economy would look like?
Read more...Chicago School Economists Got it Wrong. Strong Antitrust Policy Boosts the Economy.
History shows robust antitrust enforcement helps promote a prosperous, fair, and balanced economy.
Read more...Austerity Raises Covid Deaths
Mortality and economic data show that stingy government spending and resistance to redistrbution have increased Covid health costs.
Read more...Utopian Socialism Brings About Toilet Paper Shortages Maybe In The Near Future, or A Short Ideological History of the Suez Canal
Why it’s socialists’ fault that that big ship is stuck in the Suez.
Read more...Scoring the $1.9 Trillion Stimulus Plan and Earlier Covid Relief Programs
How to do a better job of getting relief to those who need it.
Read more...The Full Case Against Ultra Low and Negative Interest Rates
Why unprecedentedly low and negative nterest rates will probably not stimulate demand and may even threaten financial stability.
Read more...The Long Term Damage of Economic Downturns
As the well off sail on, either unaffected by or profiting from Covid’s impact, for many, the economic damage is severe and lasting.
Read more...The Productivity of Working from Home: Evidence from Japan
A new study confirms others in concluding that productivity is lower when normally office-based employees work from home.
Read more...DSGE, the Standard Economic Paradigm, is Based on Bad Modeling
Why the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) is a straightjacket for macroeconomics.
Read more...Pointless Pain Is What We’re Enduring. And All for the Sake of Accepting That Money is Not a Constraint on Our Potential, and Never Will Be
Defitic hysteria, UK style, and why misunderstanding what government money is about persists.
Read more...Why Behavioral Economics Needs Behavioral Biology: Avoiding Arms Races
Are behavioral economists really nudging people in the right direction?
Read more...Artificial Intelligence Could Mean Large Increases in Prosperity—But Only for a Privileged Few
Labor-saving advances in artificial intelligence may undo the gains from globalization and pose new challenges for economic development
Read more...James Galbraith: CBO Not Competent to Assess Economics of Minimum Wage
James Galbraith slams an “unreliable” CBO report claiming that raising the minimum wage would reduce jobs.
Read more...The Bank of England Should Stop Broadcasting the Views of a Comfortable Financial Elite
A “put foot in mouth and chew” episode from Bank of England chief economist Andy Haldane.
Read more...