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: George Soros
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 [...]
If you don't like what you've seen of Davos Man, wait till you see Nationalist Man get to work.
February 5, 2009 – 10:22 am
By Timothy Garton Ash. Davos Man, ‘the most highly evolved mammal on the planet’, should say ’sorry’ for the economic mess he’s got us into, according to a recent piece by British Conservative MP and journalist, Michael Gove. Conservative party leader, David Cameron. Cameron was a Davos Man last year too. Clearly Mr Gove is calling on his [...]
Credit crunch contrition from the commentariat
This morning an Editorial Intelligence (EI) briefing on ‘The Credit Crunch Commentariat‘ debated whether the media had talked us into recession or had downplayed the crisis and thus exacerbated its impact. “What, pray, is all the fuss about?” wrote Ex Economist editor, Bill Emmott, in the Guardian in August 2008. “Unemployment is down, the economy is [...]