Monthly Archives: April 2011

ARTICLE: F.A. Hayek, “The Moral Imperative of the Market”

Here. Introduction: In 1936, the year in which (entirely coincidentally) John Maynard Keynes published The General Theory, I suddenly saw, as I prepared my presidential address to the London Economic Club, that my previous work in different branches of economics … Continue reading

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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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Econ Grad Schools — Still Cranking Out What the AEA Called “Idiot Savants”

David Colander (pdf): “The report of the Committee on Graduate Education in Economics [which the AEA does not make available to the public on line] called for a balancing of breadth and depth in the core. That clearly hasn’t happened; … Continue reading

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MICHAEL LIND BLUBBERS IN IGNORANCE ABOUT HAYEK — AGAIN

Perhaps no economist is more well known than Hayek for his repeated criticisms of the “Homo Economicus” construct (see for example Hayek’s Law, Legislation, and Liberty). I’ve never come across a Michael Lind discussion of Friedrich Hayek were Lind doesn’t … Continue reading

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