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Monthly Archives: July 2013
Did Capitalism Cause the Irish Famine?
Nathan Cedric Tankus ran a piece yesterday on Naked Capitalism about Karl Marx’s interpretation of the Irish famine in his Das Kapital. The theory that Tankus is referring to is laid out in Chapter 25 of the book. The whole … Continue reading
Posted in Economic History, Economic Theory
5 Comments
More on Oil Market Speculation: Correction and Clarification
The other day Dean Baker ran a piece on the aluminium market scam that some of the major banks are currently involved in (more info here). I got onto Dean with regards to what he wrote on oil market speculation. … Continue reading
Posted in Economic Policy, Market Analysis
1 Comment
Kaldor’s Theory of Speculation: An Overview
I’ve been reading up a lot on economic theories of speculation as this is precisely what my dissertation is on and so far as I can tell the only real attempt to deal with speculative dynamics from a properly macroeconomic … Continue reading
Posted in Economic Theory
2 Comments
Clement Atlee: Full Employment Austerian?
The following is an article that I wrote for a newspaper and was never published: In a recent interview with The Guardian Ed Miliband summoned up the ghost of the post-war prime minister and Labour Party icon Clement Atlee … Continue reading
Posted in Economic Policy, Media/Journalism, Politics
1 Comment
The Dreaded Specter of Nihilism in Economic Theory
There’s a funny point on which almost all economists that I’ve come across agree upon — from neoclassical to Marxian to Post-Keynesian. And that is that something which they call “nihilism” must be avoided at all costs. Let us first … Continue reading
Posted in Economic Theory, Philosophy
8 Comments
Gold Fails to React… Again
Just a quick follow up to my post on gold the other day. In that post I wrote that: In plain English: the chances of the gold price falling substantially is far, far higher than the chances of the gold … Continue reading
Posted in Economic Policy, Market Analysis
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A Challenge to Michael Emmet Brady
Who is Michael Emmet Brady? Well, he appears to be a man with a PhD in economics who claims to have unearthed what he considers to be the “true” interpretation of the work of John Maynard Keynes — one which, … Continue reading
Posted in Economic Theory, Market Analysis, Philosophy
44 Comments
LOL GOLD!
Hyperinflation is coming! No, seriously! Yes, I know that I’ve been saying that since 2008 and that I’ve also said that it would be due to QE and low interest rates and now the Fed has signaled that these might … Continue reading
Posted in Market Analysis
4 Comments
Recollection and Repetition: Ergodic and Non-Ergodic Processes in the Sciences
Say what you will, this problem is going to play an important role in modern philosophy because repetition is a decisive expression for what ‘recollection’ was for the Greeks. Just as they taught that all knowledge is recollection, thus will … Continue reading
Posted in Economic Theory, Philosophy
7 Comments
Infinite Monkeys: The Limits of Probability Theory
No one could be more frank, more painstaking, more free from subjective bias or parti pris than Professor Tinbergen. There is no one, therefore, so far as human qualities go, whom it would be safer to trust with black magic. … Continue reading
Posted in Economic Theory, Philosophy
4 Comments
Fixing the Economists 