archive

Economics has met the enemy

Peter J. Boettke (George Mason), Alexander Fink (Leipzig) and Daniel J. Smith (Troy): The Impact of Nobel Prize Winners in Economics: Mainline vs. Mainstream. A review of Roads to Wisdom: Conversations with Ten Nobel Laureates in Economics by Karen Ilse Horn. John B. Davis (Marquette): Pluralism and Anti-Pluralism in Economics: Homo Economicus and Religious Fundamentalism. A review of Material Markets: How Economic Agents Are Constructed by Donald MacKenzie. Nudge thyself: Economists have more to learn from the natural sciences if they are to claim a realistic model of human behaviour. Worldly philosophers wanted: When economists tackle small problems, they lose any vision about what the economic system should look like. Econometrician Mark Thoma explains what he does, and why there’s such a battle of ideas (and models) in economics. Economists at Harvard and MIT have just released what they claim to be the crystal ball of economics: a model for predicting a nation’s future growth more accurately than any other techniques out there. Why economic models are always wrong: Financial-risk models got us in trouble before the 2008 crash, and they're almost sure to get us in trouble again. Economics has met the enemy, and it is economics. Economics is fun: Daniel Hamermesh explains how his discipline creeps into all kinds of unlikely areas. "Do not pass Go, do not collect $200": Saul Levmore on monopolies as an introduction to economics.