How to Spot Fraudulent Economic Arguments
Macro Economist Simon Wren-Lewis provided five signs to identify fraudulent economic arguments. It is amazing what happens when you apply these five... Read More
Economists Have No Sense of Shame
Since the acute phase of the Great Financial Crisis started, it has become clear Economists have no sense of shame. If they... Read More
Is the Economics We Have Better than Nothing?
A decade after the acute phase of the Great Financial Crisis it is time to ask “is the Economics we have better... Read More
PhD Economist Derp: Open to Criticism and New Ideas
Ten year after the start of the acute phase of the Great Financial Crisis and the Economics profession is still defensive about... Read More
PhD Economist Derp: Seeds for Next Financial Crisis being Planted
Having had the Queen of England point out they missed seeing the Great Financial Crisis coming, PhD Economists aren’t taking any chances... Read More
Has Economics Failed? Yes!
The Financial Times asked two experts to address the question of “Has Economics Failed“. The real answer to this question is it... Read More
Macro Economics Confuses Correlation with Causation
It has become very clear macro economists confuse correlation with causation. Since it was first introduced by Keynes, macro economists have told... Read More
The Confident Idiots at the Fed and Bank Stress Tests
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Perhaps the single worst idea to emerge from the acute phase of the Great Financial Crisis was the public announcement of the... Read More
Pathology, Prophylactics and Palliatives
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Prospect Magazine asked a number of PhD Economists and Economic commentators what is the one lesson they wish Economists would learn. Imagine... Read More
PhD Economist Derp: Confident Idiots and Bank Capital Regulations
Since the Great Financial Crisis began in 2007, I have found myself having frequent exchanges with PhD Economists about transparency, how our... Read More
To Change Economics, Build a New Model
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“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”... Read More
PhD Economists Explained: Confident Idiots
I came across an article by psychologist David Dunning that does a tremendous job of explaining PhD Economists’ (aka Confident Idiots) actions... Read More
PhD Economist Derp: We’re Experts in …
The famous adage “a little knowledge is a dangerous thing” applies to PhD Economists in spades. And nowhere is this more true... Read More
The Committee to Save the Banks – Part I: The Background
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The Committee to Save the Banks sat down for a lengthy, friendly interview for the tenth anniversary of the Great Financial Crisis. What the... Read More
The Committee to Save the Banks – Part II: Opacity and Bank Runs
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In Part II, I’ll show how the Committee to Save the Banks discussion of the panic, fear and bank runs of 2008... Read More