Nancy Cartwright’s Defense of and Attack on Economic Modelling

by Philip Pilkington

Fixing the Economists Article of the Week

Recently I thought it might be interesting to give the other side in the modelling debate a chance. Frankly, I have not found the debates online to be particularly stimulating or interesting, so I thought I’d go to what is supposed to be a prime source.

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Money and Banking, Part 12: Economic Growth and the Financial System

by Eric Tymoigne

e blood of capitalist enterprise and finance is about money now for money later. As such a well-developed financial system is essential for economic activity in a capitalist economy. The broader the range of promissory notes that can be issued, the more accommodative the financial system is to the demands of the productive system.

money.scrabble.380x160

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Joe Smuck Is Spending The Money Saved From Lower Energy Prices

Written by

Looking back, the Federal Reserve believed the decline in oil prices was good for the economy - and would provide a stimulus as consumers could spend the money saved on lower oil prices on other items. 

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The American Consumer is Doing Less to Support GDP Growth

April 30th, 2016
in consumer metrics institute, gdp

by Rick Davis, Consumer Metrics Institute

April 28, 2016 - BEA Estimates 1st Quarter 2016 GDP Growth At +0.54%:

In their first "preliminary" estimate of the US GDP for the first quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the economy was growing at a +0.54% annualized rate, down -0.84% (well more than half) from the +1.38% rate recorded for the fourth quarter of 2015.

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How Do Stock-Flow Relations Work in Economics and Are They Inappropriate for Price Dynamics?

by Philip Pilkington

Article of the Week from Fixing the Economists

Recently I did a post on the work of Katharina Pistor and included some very broad details of something related that I’m working on. Despite me saying clearly and multiple times in the piece that I was massively oversimplifying I nevertheless got some response pointing to supposed “errors” and “banalities” in what I was saying.

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