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Created
Mon, 02/03/2026 - 01:03
Despite the pervasive uncertainties surrounding their assumptions, economic modellers frequently confine their expressions of uncertainty to those generated from within the very assumptions they have chosen to embed in their models — thereby creating a false sense of precision while ignoring deeper sources of ignorance. Econometrics offers a series of cautionary tales in which highly […]
Created
Sun, 01/03/2026 - 20:23
Neoclassical economics is known for its illicit use of garbled language which hides and convolutes instead of explains … An interesting example is the chapter by Edward Prescott, titled ‘RBC Methodology and the Development of Aggregate Economic Theory’. Let’s first give the floor to him, mind that ‘leisure’ means ‘measured unemployment’: “What turned out to […]
Created
Sun, 01/03/2026 - 17:55

 
It happened on a weekend. While representatives of the two nations were still negotiating, a fleet of aircraft carriers from one of the negotiating parties approached the territory of the other.

Acting with cold premeditation, early in the morning of that fateful day, the attacking forces did their deed causing devastating damages on the other side.



As it turned out, the negotiations were merely a cover, a deception, to fool de victims. 

It was treachery.

But it worked.

Created
Sun, 01/03/2026 - 16:04
Superficially, at least, David Rieff seems well placed to write a book about woke culture. For one thing, cultural criticism runs in the family: his parents were Susan Sontag and Philip Rieff – both intellectuals with a keen understanding of how subjectivities are shaped by social change. For another, his own work has often displayed an astute grasp of the fraught relationship between the historical, the political and the psychological.
Created
Sun, 01/03/2026 - 09:50
The US and Israel claim to have killed Khameini. Iran says they missed. Either way it doesn’t matter much, the Iranian response of hitting US bases and Israel hasn’t been effected. They’ve also declared the Straits of Hormuz closed. If Khameini was killed, he is far more likely to be replaced by hawk than a […]
Created
Sat, 28/02/2026 - 02:20
. Det finns ju numera väldigt många ‘chefsekonomer’ på tankesmedjor och banker som valsar runt i medierna — men ingen så väl värd att lyssna på som Max Jerneck. I stället för det vanliga tyckmyckentrutade pladdret från televisionens och dagstidningarnas ekonomiredaktioner har vi här någon som faktiskt gör sig mödan att på djupet analysera saker […]
Created
Fri, 27/02/2026 - 19:41
~by Sean Paul Kelley Couple of random notes this Friday morning, mostly economics related, some silver news and my personal reaction to portions of the discusssion in Ian’s “Is Virtue An Advantage Or Disadvantage For Societies?” post. First, econonomics. It looks more and more like we are heading into a 2008-style credit crisis/crunch. Don’t believe […]
Created
Fri, 27/02/2026 - 19:00
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February 27th, 2026next

February 27th, 2026: TORONTO IS STILL WET AND MY COMPL

Created
Fri, 27/02/2026 - 05:21
. A classic textbook example of the ‘Table 2 Fallacy’ in economics arises when estimating the return to education and misinterpreting regression coefficients. Suppose an economist wishes to estimate the causal effect of an additional year of schooling on earnings and estimates If the estimated coefficient is small and statistically insignificant, the economist might conclude […]