Tags: economic equilibrium

‘Uncertainty’ in Contemporary DSGE Modelling: Not Even Wrong

November 17th, 2017
in history, macroeconomics

Confusion of thought and feeling leads to confusion of speech. — John Maynard Keynes more »

The Difference Between Keynesian Kaleido-Static Reasoning and Mainstream Methodology

October 28th, 2017
in macroeconomics

In order to give an adequate definition of what has been called Keynesian kaleido-statics it is first relevant to define it against that out of which it grew. Keynes’ work, as has been noted many times, grew out of the work of Alfred Marshall. more »

Post-Real Economics

February 1st, 2017
in macroeconomics

“Too large a proportion of recent ‘mathematical’ economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.” – John Maynard Keynes more »

A Short Note on a Connection Between Marginalist Economics and Folk Medicine

October 29th, 2016
in history, macroeconomics

One peculiar aspect of modern marginalist economics is its obsession with equilibrium. I was recently re-listening to an excellent lecture given by Joan Robinson in Stanford in 1974 entitled ‘What is Wrong With Neoclassical Economics?‘. more »












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