Neoclassical econometricians with their mad scientist dreams have debased economics. That is why, even though many of its specific mechanical and behavioural insights remain valid, the metatheory of neoclassical economics should be consigned to the scrapheap, argues Thus counter cultural anti-economist Chris Gilchrist. Now pay attention . . . . . Most of us suspect that [...]
Tag Archives: Chris Gilchrist
Unless we kill them now, Zombie banks will roam the earth, eating our future and boring us witless
February 22, 2009 – 3:26 pm
The financial system as a whole is rotten. Predicated on the now-doghoused dogma that markets know best and light-touch regulation is all that’s needed to produce the best of all possible worlds, the regulatory structure failed to prevent banks, insurers and investment funds from acting recklessly. During the good times, investors as well as [...]
More about inflation – Crispin Odey
January 28, 2009 – 10:22 am
Writing in today’s Financial Times, often-controversial hedge fund manager Crispin Odey echoes some of the arguments put forward on THUS by Chris Gilchrist (below). With full attribution and respect for the FT’s copyright, here is a brief extract from his piece: The world’s total outstanding debts have to be reduced. Our populations and companies need [...]