Since the Global Financial Crisis questions have been asked about the adequacy of dominant approaches to economic analysis. Are they sufficient to help us understand the economy or do they need supplementing or reformulating? This is an important question for policy not simply because of the debate over […]
Yesterday Noah Smith discussed whether economists’ ideas and arguments have much of an influence on policy and practice. He used an edited version of a famous quote from Keynes as his jumping off point. He then considered whether we can credibly claim that any living economist has significant […]
In 1930 Keynes wrote his famous essay Economic Possibilities for our Grandchildren. In the essay he made a range of predictions about what the world would be like a hundred years hence. At the heart of the exercise was the impact of increasing productivity and rates of economic […]
Earlier this evening Umair Haque tweeted: Name a book that changed your life. — umair haque (@umairh) February 4, 2013 My response was: Michael Stewart’s “Keynes and after” > RT @umairh: Name a book that changed your life. — Alex Marsh (@ShodanAlexM) February 4, 2013 If anyone […]
The way in which economic agents form expectations about the future is one of the most important issues in economics. All economic theory has to take a position on the matter, whether it is discussed explicitly or the treatment is left implicit. For three decades now the rational […]
Over at Noahpinion last week a post on the role of maths in economics generated plenty of comment.* This followed the award of the “Nobel Prize” in Economics to Shapley and Roth for work that is, in almost anyone’s book, highly mathematical. Noah Smith identified a number of […]
With the discussions over the future of the Eurozone at a critical phase, David Cameron yesterday started to make helpful noises about exercising a veto if British interests were not protected. And when he says British interests, it seems he primarily means protecting the status of the City […]
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