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Author Archives: pilkingtonphil
Austrian Business Cycle Theory: Dinosaur Economics
Just a very quick note so as to weigh in on a debate which, frankly, I don’t really want to weigh in on. It relates to the Austrian Business Cycle Theory (hereafter: ABCT) and its relationship to the natural rate … Continue reading
Posted in Economic Theory
41 Comments
Borrowing from Science: Philip Mirowski on Contemporary Neoliberalism
The historian of thought Philip Mirowski has published a very interesting piece entitled The Thirteen Commandments of Neoliberalism. The first and most important point to comment on is the following: It is noteworthy that [Mont Pelerin Society] members began to … Continue reading
Posted in Economic Theory, Philosophy, Psychology
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When Clowns Run the Circus: Economic Institutions and Intelligence Services
Adam Curtis has a new blog post out today which is as fantastic as usual. This one deals with intelligence services and how they are generally run by weirdos and idiots. This is something I’ve long been aware of personally … Continue reading
Posted in Economic Policy
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Mises and Freud: Another Heroic Misreading
You know that I want your loving But my logic tells me that it ain’t never gonna happen And then my defenses say I didn’t want it anyway But you know sometimes I’m a liar — Violent Femmes, ‘Promise‘ Ugh… … Continue reading
Posted in Philosophy, Psychology
16 Comments
Joan Robinson and the Labor Theory of Value
Here’s an interesting thought from Geoff Harcourt on Joan Robinson’s relationship with the Marxist economist (and possible Soviet infiltrator) Maurice Dobb which also goes into what she thought about the labour theory of value (excuse the Americanised spelling in the … Continue reading
Posted in Economic Theory, Philosophy
31 Comments
Routledge’s Karma: Free Stuff Alert!
Karma. The idea is that you do something wonderful and it will cancel out the awful deeds you do at some other point in time (okay, I’m taking liberty with my definition and giving a rather Catholic-tinged exposition but I’m … Continue reading
Posted in Economic Theory
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Misuse of Data Part Deux: Redux
Okay, so there’s been a bit of a misunderstanding regarding my previous post on Catalán’s misuse of data. Some of this is likely squirming but some may be due to my own presentation. So, let’s run through this in order … Continue reading
Posted in Economic Theory
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Animism and Monetarist Thinking: The Inflation in the US in the 1970s
In some tribes studied by anthropologists it was found that members believed that animals and objects, rather than human beings, were responsible for pregnancies. Pregnant women were asked by other members of the tribe what object or animal they had … Continue reading
Posted in Economic History, Economic Theory
18 Comments
On the Misuse of Data and Confirmation Bias
When I was doing my undergraduate in journalism I became interested in economic reporting and commentary. One of the things that struck me was the inability of respected opinion-makers to handle data; a disease that Dean Baker documents daily on … Continue reading
Posted in Economic Theory, Psychology
14 Comments
Why Kant’s and Mises’ Studies of Man Were Based on a Logical Contradiction
While I do not really want to deal with the Austrians on this blog — let alone Mises who, together with Rothbard, was the most muddled and mediocre of the school — nevertheless I think it might be worthwhile making … Continue reading
Posted in Economic Theory, Philosophy
4 Comments
Fixing the Economists 