Articles

At the heart of the Eurocrisis lies a vicious circle where once there was a virtuous one.

The Collapse of Free Market Macroeconomics

Here is a talk I gave recently at Wake Forest University.

The title of the conference, “Paradigm Lost,” is an obvious combination of two references.

I think I am on the track of what ‘New Economics’ is, and one could roughly sum up two days of presentations in two diagrams:

In science, empirical disciplines such as physics, chemistry, history, and parts of sociology and political science, reason from facts.

FT Alphaville has picked up on my friend James Sweeney’s latest, and since James cites the latest writings by other friends Zoltan Pozsar, Manmohan Singh, as well as my own most recent, the piece reads like a discussant’s comments on a shadow banking symposium.

Judy Klein is Professor of Economics at Mary Baldwin College in Virginia. She is the author of Statistical Visions in Time: A History of Time Series Analysis 1662-1938, (Cambridge 1997) and co-editor of The Age of Economic Measurement (Duke 2001), and co-author of The Strange Career of Cold War Rationality (in preparation)

Perry and I extend our apologies for the unplanned hiatus. By way of breaking radio silence, it seems appropriate to check in on our two favorite banks.

A correspondent sends us to a column of Paul Krugman’s that asserts that “nobody understands debt”. Fair enough.