Sad news today: one of the most esteemed academics of the 20th century died on Thursday. His book From Dawn to Decadence is one of my favorite histories and provides one of the best and most detailed stories of Western … Continue reading
Today is St. Crispin’s day, made famous by this speech in Shakespeare’s Henry V. Enter the KING WESTMORELAND O that we now had here But one ten thousand of those men in England That do no work to-day! … Continue reading
How bad was the Great Recession? Bad. And worse for the young who cut spending much more as this chart from Amir Sufi shows.
Recently I’ve been reading David Frum’s novel: Patriots. One message that comes through in the subtext is that the book is a job application for a moderate Republican presidential administration (Romney?). The book seems constantly to be saying “I know … Continue reading
As in physics, Euler equations in economics are derived from optimization and describe dynamics, but in economics, variables of interest are controlled by forward-looking agents, so that future contingencies typically have a central role in the equations and thus in … Continue reading
Research is never finished, it’s abandoned.