When we provide such a critique, we often hear another mantra to which many economists subscribe: ‘It takes a model to beat a model.’ On the contrary, we believe that it takes facts and observations to beat a model … If a model fails to answer the problem to which it is addressed, it should […]
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Despite its pretensions the mainstream failed to predict, has failed to adequately explain, and continues to fail to appropriately diagnose solutions for the major economic crises of the 21st century: from the Dot-Com collapse of 20012, to the financial crisis of 2008-10 and most recently Covid19 and its aftermath. Syll demonstrates that very little if […]
One line of thought that can be found in Mill is that good methodology consists in investigating significant forces in isolation from all interfering factors. When we have a good understanding of the behavior of all the main forces we can try to see how to put them all together. Thus we need only assume, […]
The FDA’s been caught slacking, crypto wants to eat your savings, and more from The Lever this week.
Except it’s not happy, of course. The ocean’s ecosystems are going to hell in a hand-cart, while our politicians congratulate themselves for signing up to pledges (like protecting 30% of the ocean by 2030) that they have no realistic plan for achieving. The conclusion that they are simply kicking the can down the road, while […]
After two decades, and many failed counterterrorism efforts, the Trump administration is considering shuttering U.S. Africa Command.
The post Top U.S. General in Africa Paints Grim Picture of U.S. Military Failures in Africa appeared first on The Intercept.
Donald Trump has made it impossible for any sensible person to persevere in the delusion that global business can continue as usual. We should all welcome this, even if we are livid with Trump’s shocking behaviour, decisions and narratives. The global economy will either be rebalanced or it will crash in ways that may make […]
The post A Chinese New Bretton Woods? – Quancha op-ed appeared first on Yanis Varoufakis.
Government attorneys want to reserve the right to detain and deport witnesses who take the stand in a campus free speech trial.
The post ICE Won’t Rule Out Retaliating Against Immigrants Who Testify in Free Speech Case appeared first on The Intercept.
Geolocation data is safe and sound, new parents get a break, one city’s road to reparations, and sports betting giants need to pay up.
Love it or hate it, Billie Piper's surprise regeneration during the Doctor Who Season 2 finale has EVERYONE talking about the series again.
DIE ZEIT: Friedrich Merz hat der israelischen Regierung vorgeworfen, das Leiden der Zivilbevölkerung in Gaza lasse sich »nicht mehr mit einem Kampf gegen den Terrorismus« begründen. Hat er recht, Herr Segev? Tom Segev: Die Worte von Merz waren noch immer zu mild, zumal sie hier kaum jemand gehört hat. Dieses Verständnis hat Israel nicht verdient. […]
. As Cartwright convincingly argues, although economics produces knowledge, it is only partial — knowledge that is useful in specific contexts but not universally generalizable. Mainstream economics certainly aspires to be an exact science, but if it is to be considered as such, it only applies to the ‘small worlds’ that economists know how to […]