I have previously stated that economists are like Jedis. However, I have recently realised the error of my ways – economists are obviously superior to Jedis. In both disciplines you have a person trying to understand the nature of society and find what they can add. Economists do the following: They stand back, look for …
Category Archive: Economic History
Permanent link to this article: http://www.tvhe.co.nz/2011/10/20/jedi-vs-economist/
Sep
14
2011
Papers on the old new financial crisis
Brad Delong links to a number of interesting papers regarding the US/global financial crisis of 2007-2009. I recommend the optional ones. I’m not sure I completely agree that the bailing out of Bear Stearns made matters worse – but it was an interesting perspective. In any case, its a good idea to try and understand …
Permanent link to this article: http://www.tvhe.co.nz/2011/09/14/papers-on-the-old-new-financial-crisis/
Aug
24
2011
Wants, needs and production
What is a ‘want’ and what is a ‘need’? Do these things change over time and how do we provide for them? These are the issues being considered by Pablo at Kiwipolitico in a fashion that may confuse many economists. He says: The current phase of globalised capitalism brought with it the uncoupling of production …
Permanent link to this article: http://www.tvhe.co.nz/2011/08/24/wants-needs-and-production/
Aug
23
2011
Strawman at the centre of the discussion of economics
In an article in the Herald it is suggested that the separation of economics from moral philosophy is morally abhorrent, and as a result we should ignore what economists say about tax. I will put the tl;dr up first: Economic theory is “descriptive” – which in turn allows us to discuss how economic theory is …
Permanent link to this article: http://www.tvhe.co.nz/2011/08/23/strawman-at-the-centre-of-the-discussion-of-economics/
Feb
07
2011
Quote of the day: On theory and data
From Eric Crampton: I tend to be pretty skeptical of results that aren’t grounded in basic price theory or that aren’t confirmed by a lot of different methods, including both Ocular and Ordinary Least Squares. A single paper merely helps people to update their priors – it doesn’t provide conclusive evidence of a result. Often …
Permanent link to this article: http://www.tvhe.co.nz/2011/02/07/quote-of-the-day-on-theory-and-data/
Aug
09
2010
How many economists see government
I have seen economists termed “growth fatalists” for the fact that we don’t believe that there is much government can do to change underlying economic fortunes. Greg Mankiw posted a quote that summed up the position well: Politicians are in charge of the modern economy in much the same way as a sailor is in …
Permanent link to this article: http://www.tvhe.co.nz/2010/08/09/how-many-economists-see-government/
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