Method or Madness?

{} My article about the Battle of Methodologies, published in March 2018 issue of NewsLine Magazine: Because of the universal spread and impact of Western educational systems, necessary for survival in the modern world, we have all learned to view the world through glasses manufactured in Europe. Just as a fish is unaware of the… Read More Method or Madness?

Supply & Demand: Fundamentally Flawed Model of Labor Market

[shortlink:] This is an outline of the lecture 3 in Advanced Microeconomics — expands somewhat on the slides available from the link. This should be useful to heterodox economists looking for ways to teach an alternative course, radically different from conventional approaches. First two lectures consisted of some preliminary math, and can be skipped… Read More Supply & Demand: Fundamentally Flawed Model of Labor Market

Ideological Macroeconomics & Increasing Inequality

Even though very few people have more than a vague idea about them, macroeconomic theories deeply affect the lives of everybody on the planet. Writings of Piketty, Stiglitz and many others, as well as personal experience of the 1% — 99% divide, have created increasing awareness of the deep and increasing inequalities which characterize modern… Read More Ideological Macroeconomics & Increasing Inequality

P6: Historical Context for Keynes

This post, 6th in a sequence about Re-Reading Keynes, continues to borrow heavily from Brian S. Ferguson, “Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (1): Chapter One, Background and Historical Setting” University of Guelph Department of Economics and Finance Discussion Paper No. 2013-06. However the first three paragraphs are mine. Distinguishing… Read More P6: Historical Context for Keynes

P4: The Entanglement of the Objective & The Subjective

PRELIMINARY REMARKS: Philosopher Hilary Putnam writes in “The Collapse of the Fact/Value Distinction” that there are cases where we can easily and clearly distinguish between facts and values — the objective and the subjective. However, it is wrong to think that we can ALWAYS do so. There are many sentences, especially in economic theories, where… Read More P4: The Entanglement of the Objective & The Subjective