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Category Archives: Media/Journalism
On Rising Inequality and Piketty’s ‘Laws’
I note that some readers might be interested in some of my journalistic economic writing. So, I’m going to start posting it on here. Here is a piece that I wrote for Al Jazeera that was published today. Our fragile … Continue reading
Posted in Economic Theory, Media/Journalism
5 Comments
2013 in review
The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog. Here’s an excerpt: The concert hall at the Sydney Opera House holds 2,700 people. This blog was viewed about 60,000 times in 2013. If it were a … Continue reading
Posted in Media/Journalism
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OMG Tapering!
Well, it seems that the Fed has finally decided to initiate the much talked about ‘taper’ of the QE program. The proposed taper will wind down asset purchases by $10bn a month. That means that they won’t actually stop or … Continue reading
Posted in Market Analysis, Media/Journalism, Psychology
31 Comments
John Carney’s Jobs Proposal: Cutting Satire or Accidental Self-Parody?
What is the essence of parody? The dictionary defines it as, an imitation of the style of a particular writer, artist, or genre with deliberate exaggeration for comic effect But definitions aside, I think that everyone knows a parody when … Continue reading
Posted in Economic Policy, Media/Journalism
9 Comments
Something is Rotten in the State of Macro: Krugman’s Continued Hypocritical Defence of the Status Quo
Paul Krugman is out again defending mainstream economics against students and others who rightly suspect that it has taken a wayward path. I won’t go too much here into Krugman’s own history as a gatekeeper for orthodox economics, having dug … Continue reading
Posted in Economic Theory, Media/Journalism
1 Comment
Dazed and Confused: Eugene Fama’s Bizarre 2010 Interview
I recently reread a 2010 interview with Eugene Fama, who has just been awarded the Nobel Prize for his work on the Efficient Markets Hypothesis (EMH). In the interview Fama tries to defend the position that the EMH held up … Continue reading
Posted in Economic History, Media/Journalism
1 Comment
Bad Criticisms of Economics: A Response to Chris Auld
A quick bit of fun regarding criticisms of economics. It is a post by a blogger listing 18 “bad criticisms of economics”. I think this might be worth engaging with because (a) some of the criticisms are highly subjective and … Continue reading
Posted in Economic Theory, Media/Journalism
10 Comments
The Economist Magazine, Marxism and the Conventional Wisdom
This morning I came across a rather awful piece on The Economist‘s website entitled A Marxist Theory is (Sort Of) Right. The piece is indicative of what I think to be a far more general trend in contemporary intellectual life: … Continue reading
Posted in Media/Journalism, Politics
15 Comments
Finance Panglossian: A Eulogy to Lawrence Henry Summers
Larry Summers has dropped out of the race for Fed chair — and the stock market has rallied! The irony should be noted, of course, because Summers has come to exemplify the Panglossian Wall Street liberal of the Clinton era … Continue reading
Posted in Economic Theory, Media/Journalism
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The Model that Maketh the Man? Wynne Godley in the NYT
The New York Times recently ran an article appraising the work of Wynne Godley and his colleagues and followers. This is fantastic. It is great to see this approach to economics, which the NYT rightly notes predicted the 2008 crash, … Continue reading
Posted in Economic Theory, Media/Journalism
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Fixing the Economists 