Category Archives: Economics

blogs: What _Is_ The Track Record of The Economists?

Economist Craig Newmark suggests that the discipline of economics recommends itself over other social sciences on the basis of its better “track record”. But let’s take a closer look.  What we find is that much of the best economics has … Continue reading

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ammo: Arm Against the Keynesian Counter-Revolution

A generation ago Keynesian economics was dead and buried, abandoned even by the most influential Keynesian economist of them all, John Hicks.  It had been killed by the re-discovery of Hayek (by Robert Lucas , Alex Leijonhufvud, and John Hicks, … Continue reading

Posted in Economics, Keynes | 14 Comments

A Reply to Russ Roberts on the Scientific Status of Macroeconomics

As an introduction to his new EconTalk discussion with Robin Hansen, George Mason University economists Russ Roberts writes the following: As far as I know, no prominent market-oriented economist has come out in favor of a trillion dollar increase in … Continue reading

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article: “Editor’s Introduction” to Collected Works of F.A. Hayek, Vol. 11

Quotable: “The 1926 article does, however, take a different view from the 1945 article with regard to the explanatory sufficiency of equilibrium theory. The two sides the socialist calculation debate also differed on how much relevance the general-equilibrium approach has … Continue reading

Posted in Collected Works, Economics | 1 Comment