How I missed this, I don’t know, but here is Barry Eichengreen on the future of economics textbooks: Will future generations do better? One of the more… Read more “In the Future, I Will Have Been Proven Correct”
Tag: Economics
Surprise! Recession II
This is the second part of the series started with this post. It is well worth it to begin by reading the first part, as it lays… Read more “Surprise! Recession II”
Surprise! Recession
Update: x is now defined! See below. Warning, very wonkish. This will be the first in a series laying out the math of complexity systems, and how… Read more “Surprise! Recession”
The (Unnecessary) Annoyance that is Tax Day
April 15th is finally here, which means that most Americans will have hired someone to navigate the byzantine structure that is the 70,000 page tax code, the… Read more “The (Unnecessary) Annoyance that is Tax Day”
Economics and Entropy: Fitness II
In the previous installments, we explained how value is created through irreversible processes, how all economic transactions and transformations involve entropy, and we took a stab into… Read more “Economics and Entropy: Fitness II”
Thinking Man’s Sentences
Tim Hartford, writing about [FT, gated] the importance of designing randomized experiments to guide political policy. What is missing is the political demand for tests of what… Read more “Thinking Man’s Sentences”
Entropy and Economics: Fitness
In the previous installments, we explained how value is created through irreversible processes, and all economic transactions and transformations involve entropy; that is, a loss of energy… Read more “Entropy and Economics: Fitness”
Liquidity Traps are for Suckers
I intend this to be a two part series: the first will outline some recent commentary on liquidity traps and how taken together, the signify a larger… Read more “Liquidity Traps are for Suckers”
Economics and Entropy: Irreversibility
In the first part of this series readers were introduced to Nicholas Georgescu-Roegen, and the conditions by which economic value is created under entropy. In this part,… Read more “Economics and Entropy: Irreversibility”
Entropy and Economics: The G-R Conditions
In a short conversation with Steve Randy Waldman, in which I was pleasantly surprised to hear him praise my article about “failing faster“, I was inspired to… Read more “Entropy and Economics: The G-R Conditions”