Like many of you I spent my evenings over the last week watching the news networks as various experts debated the looming shutdown. I heard the various economic arguments around the budget battles and I was constantly struck by the thought that decisions concerning peoples’ lives and security were being decided by a 19th centuryRead… Read more »
As the first decade of the 21st Century ends, I hope that the economic events of the last thirty-five years finally loosen the hold that neoclassical economics has on public policy. It is widely recognized that the accepted economic models that governments use to shape policy are just not empirically valid. Today’s economies are vastlyRead… Read more »
A book that I constantly recommend is Beinhocker’s The Origin of Wealth for two reasons. First, Beinhocker demonstrates how traditional economics is inadequate for explaining today’s economic systems. Second, he introduces complexity economics which is still developing but does a much better job in describing how real-world economies work and how people behave economically. ToRead… Read more »