Economists, Lawyers and the Myth Investors Confused by Too Much Disclosure
Since the beginning of the Great Financial Crisis, I have talked to hundreds of economists and lawyers who believe the myth too... Read More
Economists and Opacity
Since the beginning of the Great Financial Crisis, I have met too many PhD Economists to count who accept the idea opacity... Read More
Responding to Matt Stoller’s “What is the Point of Economics”
Matt Stoller wrote a terrific post in which he sought to answer the question: what is the point of economics. His answer... Read More
Joseph Stiglitz and the Information Matrix
In an excellent column, Nobel prize winning economist Joseph Stiglitz took on Neoliberalism and the Economics profession that still supports it. He... Read More
Damn the Toxic Side Effects, …
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Anna Schwartz was right*. No matter how toxic the side effects or how ineffective the policies chosen by PhD Economists, they will... Read More
The Downfall of the Economics Profession: Priors
Mark Twain could have been talking about Economists’ priors (the assumptions they make) when he is credited with observing: It Ain’t What... Read More
Central Bankers Have Only Themselves to Blame for Their Failures
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Raghuram Rajan, a University of Chicago professor, former head of India’s central bank and one of the handful of economists who predicted... Read More
Debunking Bernanke’s Financial Accelerator Model
Recently, I engaged in a Twitter exchange in which I asserted the financial accelerator model proposed by Bernanke, Gertler and Gilchrist was... Read More
Lawrence Summers and Ten Years Later
Professor Summers took on the task of defending the indefensible. Naturally, he, like the policies he promoted and supported, failed. He starts... Read More
It Takes A Model
The Economics profession’s obsession with mathematical models makes it incapable of addressing economic topics that are too difficult to model. The classic... Read More
Economists Lost Sight of Economy by Focusing on Math
Nobel prize winning economist George Akerlof identified why economists have lost sight of the real economy: they are too concerned with the... Read More
Why Do We Keep on Taking Advice From Clueless Economists?
In 2008, the Queen of England asked the Economics profession why it hadn’t seen the Great Financial Crisis coming. Like the Queen... Read More
The Fed: Not Fit for Purpose
This interview with former Federal Reserve Vice Chair Donald Kohn is jaw dropping. It reveals just how unfit the Fed was and... Read More
Chicago Booth Confirms Economists Don’t Understand Transparency
It is incredibly ironic that the University of Chicago confirmed economists don’t understand either transparency or its role in the global financial... Read More
Are Economists Scholars?
In an editorial on the GOP tax bill, Economist Brad DeLong set a standard for separating highly paid, partisan myth pushers from... Read More