In my previous posts on secular stagnation I noted the common threads between the New Classical effort to build macroeconomics on the foundations of neo-Walrasian general equilibrium theory and the ways in which mainstream Keynesians have found themselves in a decades long cul de sac of ad hoc reasoning. While I agree with the arguments … Continue reading Does economics need axiomatic foundaions?
In response to Paris, the Newt spouts dangerous nonsense.
An absolutely horrific act was committed in Nice, France last week. Like the attack in Florida, the murderer had only tenuous and recent ties to Daesh (ISIS), though Daesh (ISIS) has embraced the murderer of dozens of people as a soldier. Then there was an attempted coup in Turkey which is now being followed by revenge … Continue reading In response to Paris, the Newt spouts dangerous nonsense.
Slouching Towards Secular Stagnation: Part 2
In a previous post I discussed the recent turn of some notable mainstream economists towards reconsideration of Alvin Hansen’s thesis of secular stagnation. It would seem that there is a more general trend at work here, which embodies at least two themes: A modest revival of some parts of the “Old Keynesian” class of models, … Continue reading Slouching Towards Secular Stagnation: Part 2
On Democrats and Civil Liberties
I'm still thinking through the implications of the turn to Hansen's secular stagnation thesis and I plan to get back to it this weekend when I've had some time to ponder a few issues. For today however, I'm going to switch tracks a little bit to talk about Democrats, Republicans, gun control, civil liberties and … Continue reading On Democrats and Civil Liberties
Slouching towards secular stagnation.
Since this is my first post a few prefatory comments are in order. This blog is not necessarily directed (or at least not uniquely directed) at people with a technical understanding of economics. The second prefatory comment is a disclaimer: the last few years of my life have been a blur of either teaching (as … Continue reading Slouching towards secular stagnation.
Citizen Rat 