NGDP targeting: wither monetarism?

Monetarism is like a Zombie: it can be found theoretically wanting, empirically false and technically infeasible but in one form or another it just soldiers on.  In some ways the hype surrounding the conversation about the possibility of moving from … Continue reading →

Stimulative austerity bearing fruit in Britain? Not. Nor globally

George Osborne was quick out of the gates with the austerity as stimulus gambit.  Which as everybody from myself to Paul Krugman predicted was going to be a flop.  Osborne has been trying to save face by arguing that his … Continue reading →

Gangster Capitalism: Same as it ever was?

If you are going to read one thing and just one thing on the financial crisis and how it is working itself out you need to read this blog post at naked capitalism:  the one stop shop for understanding contemporary … Continue reading →

Returns to education: from a sure thing to a trip to vegas

Paul Krugman has pointed out, here and here that the meme that most of the inequality we have been experiencing of late has much to do with differences in educational attainment is bogus.  Mankiw responds in typical fashion by changing … Continue reading →

The economy lab, the dark age of free trade theory, and the naive view on natural resources and economic development

Over at the Economy Lab in the Globe which Failed, which itself has gone from bad to worse, one of the economists they keep in their stable has either produced an extraordinarily naive analysis or a dishonest one.  I am … Continue reading →

New Anti-Mankiw Blog and some alternative introductions to economics

There is a new economics blog on the nets dedicated to an analysis of Mankiw’s blog.  Reminds me of the anti-Samuelson text book which served as one of my textbooks for an introduction to economics.  That and Harcourt’s seminal text … Continue reading →

Republican attack on collective bargaining halted

There is a certain paradox in what just happened in Ohio.  Thanks to the provision in some states for direct democracy as opposed to a singular reliance on representative democracy a Republican law that would have in all but name … Continue reading →

The Rebel Letter to Mankiw and some thoughts on education in economics

Yesterday I noted that 10 percent of Mankiw’s students walked out of his class to protest what they, rightly believed, to be a heavily biased introduction to economics.  I think the students are right.  Introductory courses are meant to introduce … Continue reading →

Mankiw’s students walk out

So about ten percent of Mankiw’s students figured out that Mankiw is a neoliberal. Harvard students should have known that by grade six. Better late then never I suppose.