“I have often wondered why economists, with these absurdities all around them, so easily adopt the view that men act rationally. This may be because they study an economic system in which the discipline of the market ensures that, in a business setting, decisions are more or less rational. The employee of a corporation who […]
Round Two: Keynes v. Hayek
May 2, 2011 by
If you remember Round One (“Fear the Boom and the Bust“), then you won’t want to miss Round Two.
Rules for Economic Growth: Finding a “golden mean” for laws affecting innovation & entrepeneurship
April 7, 2011 by
“There has never been a prosperous society without some form of government,” said Richard Vedder, Distinguished Professor of Economics, Ohio University; Adjunct Scholar, American Enterprise Institute. On the other hand, “a society that has been controlled by government has never had extended prosperity.” So what is the golden mean? Whether we agree on the level that […]
Economists and their blind spots
March 11, 2011 by
I have a soft spot in my heart for economics. I am, by no means, an economist; however, at some point during an undergrad Econ 101 course (in a large auditorium, it seems, somewhere in the SWKT) I had an “a-ha!” moment. I suddenly saw economics as a field that actually had some predictive power for […]
Does government spending have a multiplier effect on the economy?
January 26, 2011 by
If I didn’t lose you with that wonk-ish sounding title, there’s a good possibility I’ll lose you a little later, so let me summarize: new research suggests that government spending doesn’t actually help the economy all that much. Bear with me as I explain. Some economists of the Keynesian persuasion believe that in a recession […]
RSS - Posts