economics
. Wie in den letzten Jahren mehr als deutlich geworden ist, scheint es offensichtlich, dass die meisten Mainstream-Ökonomen glauben, die Modern Monetary Theory sei etwas Neues, das sich einige wilde heterodoxe Wirtschaftsexzentriker ausgedacht haben. Das sagt tatsächlich sehr viel über das völlige Unwissen dieser modernen Mainstream-Ökonomen wie Summers, Rogoff und Krugman bezüglich der Geschichte ihrer […]
This is an important and fundamentally correct critique of the core methodology of economics: individualistic; analytical; ahistorical; asocial; and apolitical. What economics understands is important. What it ignores is, alas, equally important. As Skidelsky, famous as the biographer of Keynes, notes, “to maintain that market competition is a self-sufficient ordering principle is wrong. Markets are […]
The German parliament today, after heated debate, approved the much discussed debt package worth hundreds of billions of euros for defence and infrastructure. With the necessary two-thirds majority, the parliament in Berlin passed a constitutional amendment allowing defence and security expenditures to be exempt from the Schuldenbremse (debt brake). The previously strict debt rules for […]
This is the second part of the discussion on Tariffs that I started in – Tariffs and more – Part 1 (March 13, 2025). In the first part I considered some of the historical motivations including the infant industry argument. Today, I plan to expand on that discussion and add further considerations that might help…
. When applying principal component analysis in econometrics courses we often want to reduce data dimensionality. Eigenvalues and eigenvectors help us do that. In macroeconomics — especially when we use dynamic programming and Bellman equations to solve optimization problems — eigenvalues and eigenvectors help us determine convergence and stability properties. So — good to have […]
I Sveriges vassaste ekonomipod — Starta pressarna — diskuterades igår socialdemokraternas utspel om att inrätta en ny ‘Totalförsvarsfond’ om minst 250 miljarder kronor som ska göra det möjligt att tidigarelägga investeringar och påskynda utbyggnaden av Sveriges försvar. På många sätt är detta så klart ett bra förslag — men också lite sorgligt att det skulle […]
This week, Australia learned that old geopolitical relationships and so-called ‘free trade’ treaties mean little when it comes to US policy. The obsequious way our political class fawns after the US has been a constant sickening element of our national identity for as long as I can recall. When I was a child, we were…
Den tillträdande tyska förbundskanslern, kristdemokraten Friedrich Merz, har tillsammans med sin tilltänkta koalitionspartner annonserat en uppgörelse om att utnyttja parlamentets två tredjedels majoritet – förutsatt att de får med sig de Gröna – för att släppa på skuldbromsen. Syftet är att finansiera försvarssatsningar över 1 procent av BNP samt att skapa en infrastrukturfond på svindlande 5000 […]