Economics students today are complaining more and more about the way economics is taught. The lack of fundamental diversity — not just path-dependent elaborations of the mainstream canon — and narrowing of the curriculum, dissatisfy econ students all over the world. The frustrating lack of real-world relevance has led many of them to demand the […]
economics
• Mind the assumptions — assess uncertainty and sensitivity. • Mind the hubris — complexity can be the enemy of relevance. • Mind the framing — match purpose and context. • Mind the consequences — quantification may backfire. • Mind the unknowns — acknowledge ignorance. Andrea Saltelli, John Kay, Deborah Mayo, Philip B. Stark, et […]
A critique yours truly sometimes encounters is that as long as I cannot come up with some own alternative to the failing mainstream theory, I shouldn’t expect people to pay attention. This is however to misunderstand the role of philosophy and methodology of economics! As John Locke wrote in An Essay Concerning Human Understanding: The […]
Keith Hart, a renowned and influential economic anthropologist: “Western civilization represents itself as an economy these days. The TV news bombards us with the ephemeral movements of stock prices, exchange rates, and the latest unemployment figures. Elections are fought and lost on a government’s economic record. International diplomacy is mainly about trade and banking. The […]
Whatever the outcome in Ukraine, one thing is for sure the economic reverberations will be felt by everyone for years to come as the world divides between the West and a rapidly reshaping Eurasia.
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Replacing things that aren’t broken helps push up GDP, but is absurd. Much like Tory economic policy
Continue reading...On November 4, 2008, Queen Elizabeth visited the London School of Economics for the opening of a new building. While there she was given an explanation on the origins and effects of the global financial crisis. At the end of briefing the Queen asked only one question: “Why did nobody notice it?” Professor of Economics […]
Wassily Leontief, a Russian-born U.S. economist, was and still is one of the most recognized names in economics, linked to the development of input-output analysis for which he won the “Nobel Prize” in Economic Sciences in 1973. Leontief earned his Ph.D. degree under the direction of a German economist and sociologist Werner Sombart in Berlin […]
It’s Wednesday and also a holiday period, so just a few things today. First, I discuss a research paper that has concluded that central bankers have been using the wrong model for years which has resulted in flawed estimates of…
by Rosalie Bull
“Planned obsolescence” has become a household term for 21st century Americans. No wonder, considering that most household appliances today have been designed in accordance with the practice. Now more than ever, things just aren’t made like they used to be. In fact, they’re made to fail—often within a fraction of their potential lifespans—in order to spur more consumption.
- What have we here, Santa?
The post Ending Planned Obsolescence: a Nonpartisan Movement for Steady Staters to Support appeared first on Center for the Advancement of the Steady State Economy.