“It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.”
Professor John Harvey uses this quote from John Maynard Keynes in a must read post. It captures the essence of Nobel prize... Read More
Intellectual Honesty and Economics
After winning a share of this year’s Nobel prize in Economics, Paul Romer repeated his called for intellectual honesty in Economics (apparently... Read More
Championing Opacity Not an Impediment to Receiving a Nobel Prize in Economics
Benjamin Franklin observed “in this world nothing can be said to be certain, except death and taxes”. The Panama Papers revealed how the... Read More
Restoring Trust
In 2008, trust in the financial markets, the reporting of news and our political system was shattered. There is only one proven... Read More
Can Bank Capital Substitute for Transparency?
Economists at the World Bank looked at the question of “can bank capital substitute for oversight and supervision”. As part of their... Read More
Do Bank Regulators Engage in Accounting Control Fraud?
Did the bank regulators respond to the 2008 acute phase of the Great Financial Crisis by engaging in accounting control fraud? I’ll... Read More
Accountants Don’t Understand Transparency Too
Most of the time when I am debunking an academic paper that says “opacity is good” it is written by someone with... Read More
Serious Economics and the Nobel Prize
Nobel prize winning Economist Paul Krugman once again trotted out his “serious economics” meme. This time in reference to an American Economics... Read More