Also, name one economist who worked for the IMF
and went to an investment bank who would be
discussing anything on this list.
CJ
(raises hand sheepishly)
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which ones are the republicans? are they the goodies or the baddies?
-Original Message-
From: Ian Murray [mailto:seamus2001;attbi.com]
Sent: 06 November 2002 08:09
To: pen-l
Subject: [PEN-L:31924] uh oh
Across the Nation
GOP Gains Control of Congress
Republicans Keep Reins in House,
grr
To me, it comes down to the fundamental question of whether you think
evolution shaped our brains in ways that still affect our behavior. If the
answer is yes, then anyone interested in shaping human society should be
interested in finding out what those ways are.
Psychology is the study
BTW, does anyone know of any decent (or half-decent) measures of capital
*advanced* or *invested*, in flow-
of funds terms, as opposed to quasi-physical measures of the value of the
capital stock? Or if it is feasible to
construct such measures? What is needed is essentially the running
check out the actual paper, it's a beaut. No use of OLS regression to
demonstrate analytical rigour, but two classic traits of the genre:
1) the best available science is defined as the contents of Bjorn
Lomberg's book. I gave up counting at the 30th citation of Lomborg.
2) the argument
Going for perfection was something I always thought you should do,=20
said the 74-year-old Dr. Watson, peppering his radical perspectives=20
with trademark humour. You always want the perfect girl.
It was the prevalence of trademark humour on this level that convinced me
that academic life was
One for strong stomachs, and definitely not for reading for breakfast:
http://www.nytimes.com/2002/10/20/fashion/20BANK.html
I'd hasten to point out that none of this should be taken at face value; one
does not necessarily hear the truth if you talk to people in nightclubs.
But there is an
Pobol Annwn! Sut fath o lol 'di hyn, 'te? Be wnawn ni efo'r tomen o
sbwriel gordeimladwy 'ma, rwan?
As an actual (as, in Welsh-speaking) Welshman and a native of Ynys Mon, I
cannot quite put words to what it was that made the local farmer lie to
Mark, although if he was one of the bollockheads
I think that the thread on unemployment data was very useful if you can
filter out the unnecessary nastiness. Whether the United States or
Canada has the best statistical agencies, I leave to others.
I cheerfully admit that I have never really had any interaction with
Statistic Canada other
-Original Message-
From: Charles Jannuzi [mailto:[EMAIL PROTECTED]]
Sent: 09 October 2002 15:13
To: [EMAIL PROTECTED]
Subject: [PEN-L:31148] Re: employment
best you could say it was an argument from
previously established authority
Absolutely, because I have no real specialist
I hate to keep quoting Michael Kinsley, but he got it dead right:
people on the right are always looking for converts; people on the
left, for heretics.
is Kinsley a heretic or a convert?
dd
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PK's the man with the plan
- Original Message -
From: Devine, James
[Pen-l alumnus Brad deLong used to deny the possibility of over-investment,
even though it's the subject of my Ph.D. dissertation! (UC-Berkeley Econ.,
1981.) does he still do so?]
I don't think so; he
oh ye conservative Americans! 100 times monthly rent would be a rental
yield of 12%, wouldn't it? Mug punters in London are still stepping up to
the plate to buy investment properties at yields of 5-6%!
dd
As if refuting the bubble once and for all was not enough, the bumf goes on
to put
The editor of the new book on the Grateful Dead says that they owed much of
their popularity to bootleg tapes that spread the word about the band.
That's referring to the tapes recorded at concerts, which they encouraged
... the good ol' hippie capitalists were as aggressive as anyone else in
not usually at the $50m end of the market; it's axiomatic in London that
Kensington and Knightsbridge were the only postcodes to come through the
last property slump without a blip. Houses at this end are not typically
bought with mortgages
-Original Message-
From: Michael
thanks for this Chris ... two points from me.
Ms Krueger said she expected the fund's ministerial steering committee to
instruct it to draw up changes to its constitution to allow bankrupt
governments to negotiate with their debtors [sic] .
bankrupt governments can, of course, already
Now, the reason why I ask this question is that I started to
think about an empirical study on the influence of lease for
long-term debt swaps on stock returns and possibly more. Since it
is a very fresh idea, just got triggered by Chris' question, I
cannot get more specific than that at this
shamefully, usually to either avoid tax (NHS Trusts are big players in the
industry) or to subvert restrictions on their ability to make large capital
purchases by substituting for a capital outlay (which might be subject to
some restriction, or possibly the debt raised to buy it might be) for a
Very interesting. Of course, the citation of research here is somewhat
disingenuous; the research AG is referring to here is usually focused on
volatility as measured by daily standard deviation of log changes in stock
prices (or worse, in stock index values) and has really very little to do
I'll admit as much as more coherent or more systematic but more
scientific? That's like saying one astrologer is more scientific than
another.
I maintain that these slurs against astrology are misplaced; the Popperian
definition of a science is that a field of study makes testable predictions,
I am only guessing, but Jubilee probably refers to the Biblical practice
of forgiving debts every seven years, and Stochastic probably means that
it would happen at random intervals, rather than at preordained seven-yearly
ones. On the whole, I feel that Stiglitz, Krugman et al, might be a
If one follows this line of thought one might well be led to some
extremely radical ideas about economic policy, ideas that are completely at
odds with all current orthodoxies. But I won't try to come to grips with
such ideas in this column. Frankly, I don't have the time. I have to get
back
My impression (at a long distance) is that PK is happy with the role of
as a pundit for the newspaper he's always admired. I would guess that (on a
semi-conscious level) he imagines himself as the next Keynes, writing
essays in persuasion and leading a new policy revolution...
Oh yeh
This may be an instance of offering as an explanation what in fact is
itself in need of explanation. Why should there be so much more binge
drinking, for example, in the last 20 years than in the 1940s? 1950s?
for the same reason that a dog licks its bollocks?
(apologies to all; this message is
Yes, although they usually do it by means of a cashback deal whereby you
get money up front when you drive the motor away.
-Original Message-
From: Eugene Coyle [mailto:[EMAIL PROTECTED]]
Sent: 17 August 2002 16:36
To: Pen-L Pen-l
Subject: [PEN-L:29530] Sliding into the dip
Can the
On Tue, Aug 13, 2002 at 10:53:55AM -0400, ravi wrote:
goodwin's law?
what has processor speed doubling every two years got to do with this?
dd
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[comments?}
Sala-i-Martin is a good lad; he's a Catalonian Nationalist and thus familiar
to me from my short Welsh Nash period as a writer of tracts on the economic
viability of small European nations. But the obvious point is that this is
a piece of doublespeak from the Economist; the trick
As I said, almost everyone. jks
Almost everyone is right; as far as I can tell, yer man Posner is not in
favour of representative government or of extensive civil rights and
liberties in as much as these can't be derived from property rights.
What's your argument against his utopia of a small
Abject apologies in advance for this breach of etiquette, but I promised I'd
help out a pal ...
If anyone knows of any research assistant/office admin level vacancies which
might suit a hard-working, seemingly able recent political science graduate,
in the general area of North America, please
At 09:16 AM 07/30/2002 -0400, you wrote:
4] To what degree has the bubble (aka new) economy been nothing more than
an elaborate and calculated scheme to steal money from employees and middle
class investors, or was it more fortuitous accident of history for those
who
got rich at every one
I thought you were a bourgeois liberal. I'm confused. How do you
reconcile a collectivist philosophy with a radically individualist
one?
Doug
dialectic?
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No fair. The EF Schumacher crowd are pretty non-judgemental on this sort of
issue. Appropriate technology basically just means technology that can
be maintained and repaired without requiring an already existing industrial
society; those wind-up radios certainly count.
I worry that you may be
You don't have much choice, do you? Any more than I have a choice in
trusting my physician or carpenter because s/he's an expert. I mean, sorry,
guy, that's what expertise means, other people know more than we do about
something.
A quick tip to Pen-L members; if your doctor sounds anything
Can someone name the main achievement of one author who has been
dubbed post-structuralist?
the lads at http://www.adequacy.org had a go at claiming that Luce Irigaray
anticipated Stephen Wolfram's New Kind of Science: (I have added a couple
of question marks to words which do not get
h ... correction has a pretty precise meaning in this context, which
technical analysis bores like me would agree is overused, but was probably
appropriate in this case.
The point is that part of the reason for the fall was that there had been
short selling. By yesterday, the shorts had
h careful ... the finance academics who believe that technical analysis
is literally nonsense, the equivalent of astrology, are very much the old
guard, and are clinging to the principle in the face of mounting evidence
that there is something to it. Andrew Lo and Craig McKinlay of MIT have
Do we have to promise not to discuss it on Pen-L?
-Original Message-
From: Michael Perelman [mailto:[EMAIL PROTECTED]]
Sent: 25 July 2002 17:43
To: [EMAIL PROTECTED]
Subject: [PEN-L:28479] market socialism -- an offer
For people who are interested, here is a one-day offer. I have an
I wasn't even aware that it was legal for the Church of England to be led by
a Welshman.
dd
-Original Message-
From: Carl Remick [mailto:[EMAIL PROTECTED]]
Sent: 23 July 2002 15:17
To: [EMAIL PROTECTED]
Subject: [PEN-L:28341] Re: progressive Archbishop of Canterbury
From: Chris
of Canterbury
From: Davies, Daniel [EMAIL PROTECTED]
Reply-To: [EMAIL PROTECTED]
To: '[EMAIL PROTECTED]' [EMAIL PROTECTED]
Subject: [PEN-L:28342] RE: Re: progressive Archbishop of Canterbury
Date: Tue, 23 Jul 2002 15:19:43 +0100
I wasn't even aware that it was legal for the Church of England to be led
Church of England not founded until three Henries later my friend.
In related news, the current A of C is apparently of the opinion that any
invasion of Iraq should be carried out by an international force rather than
unilaterally by the USA, which suggests to me that I'm not as good at
On Fri, 19 Jul 2002, Devine, James wrote:
What's a good synonym for autism or dereism? I'm looking for the word
that means that one believes that something doesn't exist after one
shuts one's eyes (a belief of many very young children) *or that only
one's own perceived reality exists.*
If
information technologies really are information technologies, then
inventories should behave better in the future, Mr. DeLong says, echoing
an argument Mr. Greenspan often makes. Wal-Mart knows almost instantly
what's selling and what's not, and adjusts orders accordingly.
As I've said to
Three facts 1) stock fall 2) poll on consumer confidence 3) Fraud at
WorldCom.
And the author confidently links them together. Perhaps they are linked
-- but is there any necessary reason to think so?
Carrol
Very good reason to think that they aren't. For all the blood and thunder,
the Dow
I wouldn't wish my organs on anybody, or for that matter, the vast majority
of my body on fish.
-Original Message-
From: Carl Remick [mailto:[EMAIL PROTECTED]]
Sent: 16 July 2002 18:39
To: [EMAIL PROTECTED]
Subject: [PEN-L:28085] Re: RE: Larry Elliott/Dr Doom
From: Devine, James [EMAIL
I appreciate that we have avoided a rehash of the market socialism debate.
With
regard to the surplus, many traditional societies consumed the surplus in
the
form of a ceremony at the end of the year rather than engaging in
accumulation.
In the investment banking community we used to call this
Healey was also a founder member of the Bilderberg Group, for those who care
about such things .
-Original Message-
From: Michael Perelman [mailto:[EMAIL PROTECTED]]
Sent: 15 July 2002 04:44
To: [EMAIL PROTECTED]
Subject: [PEN-L:28034] Re: Re: The Repugs vs. Bush
The same Denis
Yo Eco-freaks. Am I here yet?
smooches
Paula
Yes. Welcome to the land of thousand word essays on value theory. My
advice would be to start off uncontroversially by expressing a strong view
on what Marx really meant by production and saying something nasty about
market socialism. Bonus
At 11:19 PM 07/02/2002 +1000, you wrote:
Sidgmore used his golden hour at the podium to complain about how much
MCI WorldCom spends on marketing its network services. According to
Sidgmore, an astonishing 49% of the telecom giant's service costs to
customers can be traced to marketing. In
Very interesting that he writes a whole big paper on the subject of
lock-in and the dot com era without once mentioning branding as a source
of competitive advantage for first movers, despite that fact that this is
surely where most of those dot com dollars went, and is surely the big
difference
And I certainly looked as if
I belonged there in my white, Bianca Jaggeresque trouser suit designed by
the British design duo, Boudicca. Few who complimented me on my attire, of
course, got the irony. Boudicca prides itself on being fashion's first
anti-capitalist label.
Thank you from the
One would also want to put insurance premia paid back into the surplus (they
are typically subtracted from profits) in order to treat insurance
symmetrically with self-insurance ...
-Original Message-
From: Doug Henwood [mailto:[EMAIL PROTECTED]]
Sent: 05 June 2002 02:12
To: [EMAIL
Why ,then, did they do it? Segerstrale comes up with the
cleverest part of the book, the late Pierre Bourdieu's conception of
moral capital. The critics wanted moral capital to help with their
personal struggles in academe for greater economic rewards and public
recognition as staunch
-Original Message-
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]
Sent: 21 May 2002 18:42
To: [EMAIL PROTECTED]
Subject: [PEN-L:26130] Re: Re: gould dies at 60
(Thus water after it is heated up gradually,
suddenly begins to boil.
If you're going to show this book to people who
They were nominal rates, on a couple of short term bank deposit series, in
late 1998. US T-Bill nominal rates went negative in the 1930s, according to
Homer's History of Interest Rates.
NB that the interesting thing was that nominal rates, ex ante, were
negative. Real rates, ex post, have
On Thu, 02 May 2002 21:08:06 -0700, Sabri Oncu wrote:
Louis,
Why should French socialists not work on
building the ranks of the left while sharpening
its understanding of class principles and vote
for Chirac at the same time to ensure that Le
Pen is stopped this time? If they vote Chirac on
Fortunately, the investor is not completely at the mercy of the corporate
money
magicians. Often, when executives attempt to distort one measure of
financial
performance, the problem shows up elsewhere. The authors offer a detection
kit for
each area of earnings management - for example, if
I'd be the last to claim I fully understood the distinction between capital
deepening and capital widening, but it strikes me that all you need to be
able to measure whether it is happening or not is to have in instrumental
variable which is locally monotonic in the (true, unobservable) amount of
-Original Message-
From: Louis Proyect [mailto:[EMAIL PROTECTED]]
Sent: 18 April 2002 19:45
To: [EMAIL PROTECTED]
Subject: [PEN-L:25116] Re: RE: Profit Rates -- From Michael Yates
What do you meant that poor countries accrue interest liabilities that they
don't pay? I was under the
To be fair, although there are known serious problems with depreciation, the
WorldCom and Global Crossing affaires aren't really relevant to the
statistics Doug quoted. The assets of WorldCom and Global Crossing are
worth exactly what they were worth before the meltdown, as stock market
Just to suggest that although the numbers are nearly exactly the same,
these are returns on capital we're looking at, so they need about two more
decimal places. To put it another way, although they're practically the
same, there is all the difference in the world between an investment which
From Michael Yates
In the discussion about profit rates, I am confused. Doug Henwood
suggests dividing profits by capital stock. Wouldn't this involve
dividing a flow (profits) by a stock (capital stock) and therefore
making a not very meaningful calculation?
Dividing flows by stocks is not
And ended in or around 1890, when the Argentine government defaulted on its
bonds and caused the First Baring Crisis. NB that around this period, I
disagree that British were very much in the business of sending gunboats to
enforce private debts; Sir John Simon issued the circular announcing
If so, why is Nash's equilibrium used for all sorts of things, such as
electricity regulation? (If I remember, the movie mentioned that.) Is it
that Nash equilibrium is basically a normative concept and that it's
applied
to improve the efficiency of electricity regulation (or what not) rather
-Original Message-
From: Ken Hanly [mailto:[EMAIL PROTECTED]]
Sent: 21 March 2002 16:35
To: [EMAIL PROTECTED]
Subject: [PEN-L:24203] Re: Re: RE: Nash, Harsanyi and Selten
I thought that Hobbes was a mathematical genius. He was the first to square
the circle. Of course this caused
The standard version of the story with the PD, as set forth in Taylor (the
inventor), Rapaport, von Neumann and Morgenstern, etc., is that the
prisoners cannot communicate. One reason for this is so that they cannot
change the payoff matrix by threatening _each other_. Otherwise the
dominant
I hope any relatives of sufferers will take cheer rather than offence in my
passing on that the motto of the Irish Alzheimer's Disease Society is:
Remember those who can't.
dd
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Well maybe, take it up with the architects of the PD, Taylor, Rapaport, vN
M, all of whom insist on the noncom condition, frankly,
Sorry mate; I'm clearly getting your back up here and I didn't mean to.
The fact that communication has to be more than cheap talk if it is to be
more than a
Well, hypothetically. But all the interesting cases that have been worked
out have noncommunication as a condition, so far as I know.
jks
I don't know where you're getting this from, unless you mean something
radically different by communication from what I think you mean. You can
have as
-Original Message-
From: Devine, James [mailto:[EMAIL PROTECTED]]
Sent: 19 March 2002 20:43
To: '[EMAIL PROTECTED]'
Subject: [PEN-L:24092] RE: Re: Nobel Prize
you think? As far as I know, there's no reason to think that the Nash
equilibrium applies in reality
The success of the
For the benefit of anyone else who has wasted the whole morning on this
question, this website:
http://abone.superonline.com/~user0001/turkish-pronunciation-guide.html
would have us believe that Sabri's surname is pronounced
Irnjyoo
I don't believe a word of it myself
dd
-Original
The poor fellow already has an impossible last
name to pronounce for English speakers: Öncü.
Why don't you give it a try?
Oncyurr? Enchway? Ownkwer? gimme some help here
in return I'm prepared to give a few tips on
Llanfairpwllgwyngyllgogerychwyndrobwllantisliogogogoch :)
dd
-Original Message-
From: Michael Perelman [mailto:[EMAIL PROTECTED]]
Sent: 14 March 2002 01:28
To: [EMAIL PROTECTED]
Subject: [PEN-L:23950] Re: marx's proof regarding surplus value and
profit
. So, let's call a halt to
this.
sorry; ifI could withdraw my previous reply to it I
If you want more specificity, consider another two-good economy.
Sector A produces 10 units of A, using 9 units of A and 1 unit of
labor. Sector B produces 3 units of B, using up 2 units of A and
1 unit of labor. So there's a positive net product of B, 3 units,
and a negative net product of A,
It is curious how little notice Duesnberry's book is given. For mine, it
destroys the whole neo-classical analysis once and for all. (One of many
such
destructions that have had no discernible result.)
Only in so far as the NCs believe their own hype regarding the status of
neoclassical
very interesting article; two points, both regarding my personal obsession
with Iraq:
I have sat on an unexploded Iraqi chemical bomb in the Kurdish town of
Halabja, which was ethnically cleansed by fire and poison,
This was no doubt very brave of Hitchens, but the Kurds in Halabja were
killed
Since Japanese banks report on a consolidated basis, how would moving their
assets from a correspondent account in New York to a nostro account in Tokyo
help them close their accounts?
dd
-Original Message-
From: Charles Jannuzi [mailto:[EMAIL PROTECTED]]
Sent: 06 March 2002 03:01
To:
-Original Message-
From: Michael Perelman [mailto:[EMAIL PROTECTED]]
Sent: 04 March 2002 16:43
To: [EMAIL PROTECTED]
Subject: [PEN-L:23467] Re: RE: Re: Rigor mortis?
Daniel, I don't disagree with you, although the PBS television show, Nova,
did
do a pretty good job. I was asking about
But, in any case, I believe that attention in recent years by economic
historians has been given to the role of countless thousands of very small
innovations each year (rather than focus on the big-deal innovations) as
having been key for technological progress in capitalism. I tend to go
(hoping this will do as a tentative reply to Eric too)
Recasting Marx in algebraic, mathematical, or precise numerical form, seems
a
bit foreign to his overall project, which his understanding the nature of
capitalist society and the weaknesses that will lead to the creation of a
socialist
Both agreement and disagreement here. Need to separate:
a) critiques of central planning per se
from
b) critiques of Stalin's version of it.
The Soviet Union for most of its life worked on the basis of Stalin's
version of a command economy, whereby, as Carrol puts it, production
decisions
If I were Dornbusch, I would be keeping my mouth tightly shut on the subject
of Argentina and hoping that nobody remembered my previous breathless
advocacy of currency boards as a panacea. There is certainly enough
incriminating stuff on the rest of his website that should form context for
his
I have little faith that formal models clarify much or avoid
misrepresentations
of reality. I have asked the list for examples of formal models that have
taught them anything that they could not have learned by other means. I
think
Peter Dorman may have been the only one who responded.
I've
This does seem like an interesting fundamental disagreement on the meaning
of the productive forces. We've basically got two views here:
1) Charles' and mine, that production is a physical process. As Charles
said, one measure of the productive forces which allows the term to be given
sense
Jim D. writes
Eric N. writes: I would go further. It could be argued that no
objective measure of the level of productive forces can exist.
Presumably a productive force is considered productive because it leads to
some good or service that people want and/or need. But, as Smith and
-Original Message-
From: Yoshie Furuhashi [mailto:[EMAIL PROTECTED]]
Sent: 26 February 2002 08:48
To: [EMAIL PROTECTED]
Subject: [PEN-L:23239] Re: Dallas Smythe student
Tom says:
The anxiety isn't over pleasure and sensuality per se, but over the
commodification of pleasure and
Dutch disease was an absolutely massively fashionable topic when I was at
university, mainly because Nickell and Muellbauer had declared it to be
interesting. The idea is that, if you've struck natural gas or some such,
then you're very likely to be running a massive current account surplus for
Any forecasts on when we will be able to solve this
transformation problem?
I have a most marvellous solution to this one, but it will not quite fit
into this margin ...
dd
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Why is it Scotland can afford personal health care for the elderly but
England can't?
Potentially, because Scotland is the heart disease capital of Europe,
meaning that its citizens can be actuarially expected to die earlier with
less of the long-term care which is the real driver of health
Dividends (under a classical rather than imputation system) are paid out of
income on which corporation tax has already been paid, but are counted as
taxable income to the stockholder.
-Original Message-
From: Eric Nilsson [mailto:[EMAIL PROTECTED]]
Sent: 18 February 2002 18:39
To: Pen-l
CB: So, does it look like the topic of The New Economy is troughing too ?
On the subject of which, I would imagine that Enron has pretty much put the
kybosh on those ideas about capitalising human capital which we heard so
much about the year before last. The process by which (eg)
...On January 29, the IMF's assistant director for monetary and
exchange affairs suggested that the country [Afghanistan] should abandon
its
currency and adopt the dollar instead.
My alternative proposal -- that Argentina should peg its currency to the
Afghani -- met with but scant support
URPE spent something like $15,000 defending itself against Kliman's
lawsuit, which has very nearly bankrupted the organization. But hey,
it's important to get those value theory papers out there if we want
to overturn bourgeois rule.
I'm just amazed that the Union of Radical Political
-Original Message-
From: Ken Hanly [mailto:[EMAIL PROTECTED]]
Sent: 11 February 2002 20:57
To: [EMAIL PROTECTED]
Subject: [PEN-L:22713] Re: Re: Wishful thinking
By the way the 150,000 or so Zoroastrians who actively practice the
religion will be surprised to learn of their death.
-Original Message-
From: Justin Schwartz [mailto:[EMAIL PROTECTED]]
Sent: 11 February 2002 21:16
To: [EMAIL PROTECTED]
Subject: [PEN-L:22714] Re: Re: Re: Wishful thinking
In the heyday of Keynesian, Hayek was a _young_ fossil; when he was an old
fossil, he triumphed.
jks
Over
almost certainly yes. My screen tells me that they won out over Citigroup
in a hotly contested auction, so presumably some payment will be
forthcoming to the bankruptcy trustees. NB that what they've bought is the
trading platform ie the computers, and probably first dibs on some key
staff.
Fortunately for physics there is an independent determinant of mass, that
is
gravitational acceleration which, in turn, is determined by the
gravitational field. So this provides a way out of this particular
circularity.
Albeit that this is hardly an unqualified triumph for physics, since the
As is always the case with these debates, I can't resist the urge to
ask - so what? Why is the value controversy so important? Why is it
so important for Justin to reject it and Rakesh to defend it?
Well there's a fundamental philosophical issue at stake isn't there?
For my part, I'm more
Are you following Blaug to accept Popperian
falsification, a criterion that makes _all_ social science (or almost all)
worthless?
Not quite all social science: the social science of astrology makes twelve
falsifiable predictions every morning in my newspaper and thus qualifies as
a science
If the main results of the
LTV and or the LoV whether in a quantitative-qualitative
combination or relying singly on quantitative or qualitative
approaches adds nothing to what can be achieved in terms of
*explanation* without them, then why shouldn't Ockam's razor
apply--to concepts, not
I don't accept GET. I'm basically a Robinsonian/Kaleckian institutionalist
with a large dash of Austrian thrown in for spice.
Must make for some interesting dinner parties
But I don't see how saying I'm an institutionalist gets you off the hook
here. That's not a value theory, and
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