Cameron Murray — Economic capital is like pornography - you know it when you see it

There are two parts to this blog post. First the important stuff, clarifying the weirdness of capital and the confusion of applying economic concepts in practice. Second is a rant about where the weirdness and confusion comes from, and I point the finger at the intellectual laziness of the economics profession.

A new twist on the Cambridge capital controversy — what is K?

Fresh Economic thinking
Economic capital is like pornography - you know it when you see it
Cameron Murray