An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Tuesday, January 14, 2014
George Stigler and the labor theory of value
Stigler got it all backwards.
George Stigler is a neoliberal ideologue and gets paid well for it.
George S has been was-ing, not is-ing for 20+ years. Can't say I dislike McCloskey's jibe about him (just read it at Wikipedia): "among the worst historians of economic thought in the history of the discipline" who "read a lot but was defective in paying attention."
But his son Stephen S is a fine historian of probability and statistics, so everything he did wasn't bad.
George S has been was-ing, not is-ing for 20+ years. Can't say I dislike McCloskey's jibe about him (just read it at Wikipedia):
ReplyDelete"among the worst historians of economic thought in the history of the discipline" who "read a lot but was defective in paying attention."
But his son Stephen S is a fine historian of probability and statistics, so everything he did wasn't bad.