Monthly Archives: July 2014

A Storm is Coming: On the Rethinking Economics Conference in London

Posted on July 16, 2014 by pilkingtonphil

I’ve published a piece on Al Jazeera that gives an account of the extremely impressive London conference that the students fighting to change economics put on at the end of last month. There are some nice anecdotes and I think … Continue reading →

Posted in Economic Theory, Media/Journalism | Leave a comment

Keynes’ General Theory, the ISLM and Roy Harrod’s ‘Dynamics’

Posted on July 15, 2014 by pilkingtonphil

Too often discussions of the relationship between Keynes’ General Theory and the ISLM model focus on John Hicks’ 1937 paper ‘Mr. Keynes and the Classics‘. That paper appeared in the April edition of Econometrica, Volume 5, Issue 2. But Roy … Continue reading →

Posted in Economic Theory | 8 Comments

Stock Market Crash!

Posted on July 12, 2014 by pilkingtonphil

Did that title get your attention? I’d imagine that it did. There’s nothing like predictions of a crashing stock market to get the attention of readers. Well, I’m not quite willing to make any firm predictions. Rather I want to … Continue reading →

Posted in Market Analysis | 14 Comments

The Great Unwinding: Some Thoughts on the Incoherence of Mainstream Economics

Posted on July 11, 2014 by pilkingtonphil

A recent post by Lord Keynes inspired me to write up some very general thoughts on the state of mainstream economics. Today, I believe, mainstream economics is completely incoherent. What do I mean by that? Well, basically if you are … Continue reading →

Posted in Economic History, Economic Theory | 31 Comments

Against Marginalist Pricing Theory: US Consumer Prices and Capacity Utilisation

Posted on July 9, 2014 by pilkingtonphil

Marginalist economic theory tells us that when there is unemployment of capital resources prices should fall. Some marginalists like the New Keynesians and the neo-Keynesians will supplement this by saying that prices can tend to be ‘sticky’. Let us ignore … Continue reading →

Posted in Economic History, Economic Theory | 59 Comments

The Reformation in Economics: Table of Contents

Posted on July 7, 2014 by pilkingtonphil

So, my book is super close to being finished (I know… I keep saying that…). And I have an agent currently considering it. They have said that they want this to be published as a popular book which is exactly … Continue reading →

Posted in Economic Theory, Media/Journalism, Philosophy | 6 Comments

Beware the Scholastics! Some Thoughts on the Curriculum Reform Movement

Posted on July 4, 2014 by pilkingtonphil

With the Rethinking Economics student movement in full swing the topic of curriculum reform is once again on the table. For those of you who read this blog and are uncomfortable with this: sorry, you’ve already lost that debate, you … Continue reading →

Posted in Economic Theory, Politics | 10 Comments

Marc Lavoie’s New Book

Posted on July 2, 2014 by pilkingtonphil

Marc Lavoie’s new book on the foundations of Post-Keynesian economics is out entitled Post-Keynesian Economics: New Foundations. I learned a lot from the last version of this book and Marc has told me that he’s been working hard to update … Continue reading →

Posted in Economic Theory | 28 Comments

Moar Rethinking of Economics

Posted on July 1, 2014 by pilkingtonphil

Here’s an interview with Tony Lawson on economics, mathematics and ontology.

Posted in Economic Theory, Philosophy, Statistics and Probability | Leave a comment