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.
I particularly liked the special issue of the Oxford Review of Economic Policy entitled “Rebuilding Macroeconomic Theory” which Steve Keen refers to. One of contributors – desperately keen to show how much he supports “rebuilding” economics – is none other than Oliver Blanchard: the IMF economist who spent most of the recent crisis pushing austerity (i.e. advocating that we need to prevent the national debt rising too far).
No doubt there were aristocrats after the French revolution who discarded their expensive clothes, put on peasant clothes and claimed they’d backed the revolution all along....:-)
NOTE on Steve Keen — Why economics is too important to be left to the (academic) economists
There is NO such thing as an economic expert http://axecorg.blogspot.de/2016/11/there-is-no-such-thing-as-economic.html
Economics: a science without scientists https://axecorg.blogspot.de/2016/10/economics-science-without-scientists.html
The economist as standup comedian http://axecorg.blogspot.de/2016/11/the-economist-as-standup-comedian.html
Economists, stupid or corrupt or both? http://axecorg.blogspot.de/2018/01/economists-stupid-or-corrupt-or-both.html
Again and again: economists are incompetent scientists http://axecorg.blogspot.de/2017/12/again-and-again-economists-are.html
Nothing to choose between Orthodoxy and traditional Heterodoxy http://axecorg.blogspot.de/2016/08/nothing-to-chose-between-orthodoxy-and.html
Where advanced Heterodoxy — represented by Steve Keen — took the wrong turn http://axecorg.blogspot.de/2016/04/where-advanced-heterodoxy-represented.html
Throw them out! Orthodox and heterodox economists are unfit for science https://axecorg.blogspot.de/2017/12/throw-them-out-orthodox-and-heterodox.html
3 comments:
I particularly liked the special issue of the Oxford Review of Economic Policy entitled “Rebuilding Macroeconomic Theory” which Steve Keen refers to. One of contributors – desperately keen to show how much he supports “rebuilding” economics – is none other than Oliver Blanchard: the IMF economist who spent most of the recent crisis pushing austerity (i.e. advocating that we need to prevent the national debt rising too far).
No doubt there were aristocrats after the French revolution who discarded their expensive clothes, put on peasant clothes and claimed they’d backed the revolution all along....:-)
“the sectoral balance approach that the late Wynne Godley used to warn that a macroeconomic crisis was inevitable, well before the 2008 crisis hit”
This is BS...
NOTE on Steve Keen — Why economics is too important to be left to the (academic) economists
There is NO such thing as an economic expert
http://axecorg.blogspot.de/2016/11/there-is-no-such-thing-as-economic.html
Economics: a science without scientists
https://axecorg.blogspot.de/2016/10/economics-science-without-scientists.html
The economist as standup comedian
http://axecorg.blogspot.de/2016/11/the-economist-as-standup-comedian.html
Economists, stupid or corrupt or both?
http://axecorg.blogspot.de/2018/01/economists-stupid-or-corrupt-or-both.html
Again and again: economists are incompetent scientists
http://axecorg.blogspot.de/2017/12/again-and-again-economists-are.html
Nothing to choose between Orthodoxy and traditional Heterodoxy
http://axecorg.blogspot.de/2016/08/nothing-to-chose-between-orthodoxy-and.html
Where advanced Heterodoxy — represented by Steve Keen — took the wrong turn
http://axecorg.blogspot.de/2016/04/where-advanced-heterodoxy-represented.html
Throw them out! Orthodox and heterodox economists are unfit for science
https://axecorg.blogspot.de/2017/12/throw-them-out-orthodox-and-heterodox.html
Egmont Kakarot-Handtke
#Economics #FailedScience #FakeScience #CargoCultScience #BogusScience #ScientificIncompetence #OrthodoxEconomics #HeterodoxEconomics #Pluralism #Econ101 #NewEconomicThinking #MakeEconTrue #ParadigmShift #Science #MacroFoundations #Axiomatization
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