Cognitive Economics: How Self-Organization and Collective Intelligence Works
The challenge of understanding self-organizing groups.
Read more...Category Archives: The dismal science
Debunking Mainstream Economists on Secular Stagnation and the Loanable Funds Fallacy
An important, accessible takedown of the loanable funds theory, on which a ton of bad policy rests.
Read more...Larry Summers: Reagan’s Tax Plan Was Better Than Trump’s
Summers on inequality, the GOP tax plan, and US economic prospects.
Read more...Defining the Tax Reform Battleground
How tax “reform” policy discussions reinforced destructive economic ideas.
Read more...Bill Black: DSGE Dilettantes v. ADM God Devotees
Black shows how DSGE defenses fall apart, even as their backers lash out at critics.
Read more...Why Stopping Tax “Reform” Won’t Stop Inequality
Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers.
Read more...The DSGE Model Quarrel (Again)
Economists duke it out over a new defense of discredited but still widely used DSGE models.
Read more...How Hayek’s Evolutionary Theory Disproves His Politics
How critics of Hayek, like those of Marx, fixate on his politics and ignore his important economic insights.
Read more...MIT Professor Angrist Publishes Obviously Misleading Analysis of Uber Driver Economics….With Uber Chief Economist as Co-Author
More Uber boosterism masquerading as analysis.
Read more...Monetary Mental Illness
Puzzling over why more people don’t embrace Modern Monetary Theory.
Read more...How Market Competition Really Works
One of the best models of competitive markets in an economy is an evolutionary one.
Read more...The Republican Tax Plan
Economists discuss the Republican tax proposals and for the most part, find a lot not to like.
Read more...Nothing Natural About the Natural Rate of Unemployment
Lambert here: “Natural” is indeed one of those words you should watch out for (like “we”). As in, for instance, “natural disaster.” And, of course, the Natural Rate of Unemployment (NAIRU). It’s often amusing to replace “natural” with “artificial”; generally there’s no loss of meaning, and often additional clarity is induced. By Edmund Phelps, the […]
Read more...The Movement to Replace Neoliberalism Is on the Ascendency – Where Should It Go Next?
The time is ripe for a movement to replace flawed mainstream economics…but what must it do to succeed?
Read more...Capitalism: Not With a Bang But With a (Prolonged) Whimper
The question: How does capitalism end?
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