It’s taken me a month to read it but Deirdre McCloskey’s essay on Piketty’s Capital is just as persuasive as you’d expect. Print it and read it with your family over Christmas! The review doesn’t break any new ground but it is eloquent and engaging. Her central themes are:
Author Archive for: jamesz
Entries by jamesz
Earlier this week the UK Government announced its new fiscal rule, which defines the fiscal envelope. For those of you who aren’t British, the deficit exceeded 10% of GDP during the recession and fiscal sustainability has become an important political issue, even for people who aren’t econ junkies! Unfortunately, this new rule is unlikely to […]
I’m sure you’ve all noticed that, with the exception of Patrick’s great post on productivity yesterday, it’s been a bit quiet around here lately. Matt’s busy working two jobs in addition to writing a PhD, agnitio has decided that a house and family are more important than blogging, and I have descended into the laziness […]
Bank of England Chief Economist Andy Haldane: “I have a dream. It involves a Star Trek chair and a bank of monitors. It would involve tracking the global flow of funds in close to real time, in much the same way as happens with global weather systems.” Is the binding constraint on better macroprudential policy […]
As the world starts to move from focusing on growth to wellbeing a group of neuroscientists decided to test people’s brains to check whether ‘happiness’ occurred as predicted. The BBC reports that they found “We can look at past decisions and outcomes and predict exactly how happy you will say you are at any point in […]
…assuming that decision processes are reducible to one-size-fits-all sets of axioms has not and will not produce a descriptively adequate account of human behaviour under risk and uncertainty. Researchers find that people’s risk preferences are not stable. How risk averse is an individual? That depends on the situation.