The Dismal Science

BERL report on changing the PTA

Matt Nolan Sep 13, 2012

I tend to avoid criticising other economists, especially inside New Zealand.  However, the BERL-NZ First report into inflation targeting has crossed a threshold where I feel saying nothing would be more inappropriate than voicing my disagreement. I have discussed the issue on my work website here.  In that article I solely discuss the idea of [...] … Read More

Are real Austrian economists neoclassical?

Matt Nolan Sep 12, 2012

According to this lovely post, the answer is yes (ht Economist’s View).  Choice quote: Does Davidson know what a neoclassical policy is? Does Boettke? Does anyone? I don’t think so, because neoclassical economics, as such, has no policy agenda. But whatever a neoclassical policy might be, Davidson assures us that Hayek is totally against it. [...] … Read More

Debunking Keen on Bernanke: The issue of debt deflation

Matt Nolan Sep 12, 2012

From Twitter, and email adverts, I’ve heard the Steve Keen is or was in town discussing economics.  That’s good, everyone should be discussing economics. As you may have noted earlier both Anti-Dismal and myself have had issues with Keen’s analysis in the past – his criticism of microeconomics is just patently wrong.  However, I intend [...] … Read More

What do economists really think?

Paul Walker Sep 11, 2012

In a new paper Daniel B. Klein gives us an answer. His paper is The Forsaken-Liberty Syndrome: Looking at Published Judgments to Say Whether Economists Reach a Conclusion. The abstract reads, Do economists reach a conclusion on a given policy issue? O... Read More

A note for Winston Peters

Paul Walker Sep 10, 2012

Immigration can be good for you. Yes Winston, those foreigners can in fact help the economy. Almost a century and a half after the first large migration wave of the late 19th century, those places where migrants settled in big numbers are significantl... Read More