Category Archives: Economics Profession

Robert Higgs on Truth, Error & the Pathological Culture of Academic Economics

Highly recommended.

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More Shop Talk Among the Idiot Savants

Stephen Williamson: “You could make a good case for requiring only the core and a dissertation [and eliminated all other economics courses, e.g. economic history, history of econ thought, behavioral economics, etc.]. Getting a PhD in economics is about acquiring … Continue reading

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Shop Talk Among the Idiot Savants

Richard Serlin: “You do see a lot of complaints from economists about economists [with a bachelors in math or physics, but] without bachelors in econ, not understanding intuitively much of the field.” Serlin is a professor of finance at the … Continue reading

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Notes from the Land of the Idiot Savants

Richard Serlin illustrates the typically pencil thin economic understanding of today’s standard issue professor of economics with an example: I remember talking to a nationally respected econometrician on a very basic IO issue, Microsoft’s anti-trust case, and him showing not … Continue reading

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LARRY SUMMERS BIG BET AGAINST BRITAIN

Larry Summers at Bretton Woods: “I have always been an empiricist, so I will be happy to say that if Britain enjoys a boom over the next two years coming from increased confidence, I will be required to quite radically … Continue reading

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“If you “rocket science” math economists are so smart, why is the country in a depression?”

I think we need to retire Deidre McCloskey’s shopworn — and fallacious — rejoinder to her fellow economists:  “If you are so smart, why aren’t you rich?” Plenty of people with knowledge of economics have become rich — and plenty … Continue reading

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