Supply, Demand, and English Food

from Paul Krugman. His musings on bad English food. So what does all this have to do with economics? Well, the whole point of a market system is supposed to be that it serves consumers, providing us with what we want and thereby maximizing our collective welfare. But the history of English food suggests that […]

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Easy Way To Find Things To Do Great Work On (Advice from Paul Krugman)!

I was, of course, only saying something that critics of conventional theory had been saying for decades. Yet my point was not part of the mainstream of international economics. Why? Because it had never been expressed in nice models. The new monopolistic competition models gave me a tool to open cleanly what had previously been […]

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rePost : Needs to be Broadcast, Why Aren’t You Ashamed Of Yourselves!: Grasping Reality with Both Hands: Gregory Clark Is Chairman of the Department of Economics at the University of California at Davis

Image via Wikipedia Gregory Clark Is Chairman of the Department of Economics at the University of California at Davis Greg Clark writes: Dismal scientists: how the crash is reshaping economics: The current recession has revealed the weaknesses in the structures of modern capitalism. But it also revealed as useless the mathematical contortions of academic economics…. […]

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