All Posts Tagged With: "neoclassical economics"
Economic Analysis and the Great Society
Although the Great Society should be understood as primarily a political phenomenon—a vast conglomeration of government policies and actions based on political stances and objectives—economists and economic analysis played important supporting roles in the overall drama. Even when political actors could not have cared less about economic analysis, they were usually at pains to cloak [...]
25May2011 | Robert Higgs | 5 comments | ContinuedAnimal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism
Neoclassical economic theory (in which I include Austrian economics, ignoring the methodological differences) doesn’t explain everything in the world, not even everything that occurs in what is considered the economic realm. In recent years this has been the theme of the growing subdiscipline “behavioral economics,” which has, often usefully, focused attention on economic anomalies—outcomes inconsistent [...]
25Aug2010 | Dwight R. Lee | 23 comments | ContinuedA Failure of Capitalism: The Crisis of ’08 and the Descent into Depression
Richard Posner’s latest book belongs to the fast-expanding cottage industry of financial crisis books. A federal judge with a grounding in economics, Posner would seem to be an ideal person to tackle this complicated subject. Alas, he provides neither fresh material nor an interesting perspective. Posner describes well-known events—the failure of investment banks Bear Stearns [...]
5Jan2010 | Chidem Kurdas | 1 comment | ContinuedThe Vanity of the Philosopher: From Equality to Hierarchy in Post-Classical Economics
By Sandra J. Peart and David M. Levy Reviewed by Gene Callahan
1Apr2007 | Gene Callahan | 1 comment | ContinuedAustrian Economics and the Political Economy of Freedom
The revival of the modern Austrian school of economics may be said to have begun 30 years ago, during the week of June 15–22, 1974, when the Institute for Humane Studies sponsored a conference on Austrian economics for about 40 participants in the small town of South Royalton, Vermont. In 1974 the Austrian school had [...]
1Jun2004 | Richard M. Ebeling | 0 comments | ContinuedImperfect Knowledge
Three economists have won the Nobel Prize in economics for studying the “asymmetric” (uneven) distribution of information in markets. The winners are Joseph Stiglitz of Columbia University, George A. Akerlof of the University of California at Berkeley, and A. Michael Spence of Stanford University. As the prize committee and various commentators see it, Stiglitz, Akerlof, [...]
1Dec2001 | Sheldon Richman | 0 comments | ContinuedMicrofoundations and Macroeconomics: An Austrian Perspective by Steven Horwitz
Routledge · 2000 · 276 pages · $100.00 Reviewed by Gene Callahan Professor Steven Horwitz of St. Lawrence University has written an important new book laying the foundation of an Austrian school approach to macroeconomics. Horwitz is not addressing only fellow economists: While this book is certainly not an introductory work (don’t give it as [...]
1Dec2001 | Gene Callahan | 0 comments | ContinuedWhere Are the Best Schools in Austrian Economics?
Here in the United States most colleges and universities have a goodly number of “neoclassical” economists with a free-market bent. (There are a number of “free market” colleges and universities in Latin America, Europe, and Asia, a topic I shall pursue in a future column.) The American schools include the University of Virginia; the University of California, Los Angeles (UCLA); Florida State University; and the University of Chicago.
1Jul2001 | Mark Skousen | 35 comments | ContinuedIt All Started with Adam
Adam Smith, that is. Having just completed writing a history of economics,[1] I have concluded that, despite the protestations of Murray Rothbard and other detractors, the eighteenth-century moral philosopher and celebrated author of The Wealth of Nations deserves to be named the founding father of modern economics.
1May2001 | Mark Skousen | 1 comment | Continued-
The Latest
Contraception: Insuring the Uninsurable
Update below. Controversy rages over the Obama administration’s mandate that all employers – including... Read More
The Snow Plowers’ Petition
The following might have happened in a small college town in upstate New York… In a cold and snowy... Read More
Super Bowl versus Education?
In the spirit of Super Bowl weekend I’d like to deconstruct a Facebook status update that a friend... Read More
Capitalism, Corporatism, and the Freed Market
When a front-running presidential contender tells the country that thanks to Barack Obama, “[w]e are... Read More
Creating Jobs versus Creating Value
Picking on New York Times columnist Paul Krugman is one of the largest participation sports on the Internet.... Read More
