Sunset of the Economists
Two decades ago, China’s reformist economists walked the halls of power and dictated policy. Now, they have been side-lined in favor of a new priority: national security. What happened? Read More Here
Tag: Economists
The War On Economics
Where leaders once turned to sages and pols for such wisdom, they now turn to the guild of economists. The most powerful states in the world are accustomed to outsourcing the management of their crucial macroeconomic decisions to committees of central bankers. Read More Here
The AI Frontier Of Economic Theory
Until recently, data sets were small and costly, and computers were slow and expensive. So it is natural that as gains in computing power have dramatically reduced these impediments, economists have rushed to use big data and artificial intelligence to help them spot patterns in all sorts of activities and outcomes. Read Here – Project […]
What Economists Still Need To Learn
More than a decade after the global financial crisis, macroeconomists have failed to absorb three crucial sets of lessons. Their models are still struggling – and mostly failing – to cope with disruptive change, and with the fact that both balance sheets and inequality matter. Read Here – Project Syndicate
Stories That Can’t End Well
After almost a century in which economic policymaking was the preserve of technocrats and social scientists, scholars from narrative-based disciplines have begun to feature prominently in policy debates. But by using partial knowledge to advance specific policy prescriptions, they have become even more dangerous than economists. Read Here – Project Syndicate
The End Of Economics?
In the three decades since the end of the Cold War, economics has enjoyed a kind of intellectual hegemony. In the three decades since the end of the Cold War, economics has enjoyed a kind of intellectual hegemony. It has become first among equals in the social sciences and has dominated most policy agendas as well. Economists have […]
Why The U.S. Economy Is Having A Boom
Why is this boom happening? That’s an almost impossible question to answer. Fundamentally, economists don’t know why booms happen. It’s possible that there’s not even such a thing as a “boom” at all — that this is just how the economy works under normal circumstances, when there isn’t a recession or crisis to throw it off […]
What Is Human Capital?
Friedman had discovered in human capital theory more than just a means for boosting economic growth. The very way it conceptualised human beings was an ideological weapon too, especially when it came to counteracting the labour-centric discourse of communism, both outside and inside the US. Read Here – Aeon
Will China And India Always Be Poorer? Probably Not
Since 1950, middle-income countries have nearly always grown faster than expected. Looking just at the past decade and a half, current middle-income countries that had an average gross national income of $2,381 in 2000 have seen that more than double, to $4,951 in 2015. U.S. income, in contrast, climbed just 15 percent over the same […]
Economists Versus The Economy
Today’s professional economists, by contrast, have studied almost nothing but economics. They don’t even read the classics of their own discipline. Economic history comes, if at all, from data sets. Philosophy, which could teach them about the limits of the economic method, is a closed book. Mathematics, demanding and seductive, has monopolized their mental horizons. […]
looking beyond borders 