A humane person indeed. http://www.imf.org/external/pubs/ft/fandd/2011/06/people.htm
I am sure that progressive economists see the efficiency wage hypothesis as at best a limited explanation of unemployment (I think the Moshe Adler book that Michael Yates reviews is very critical of this theory). At any the paper on corruption with Romer seems very interesting (if not groundbreaking), and I have never read it. Fraud, corruption, money laundering, tax evasion, illegal capital outflows--it does seem that economic theory could do a lot more work on all this. *** I couldn't help but thinking that if prices are not only determined by supply and demand dynamics but also by ideas of fairness, then we need some explanation for what determines what is fair price in peoples' estimation. What is behind people's conception of fairness? **** The new book on the economics/conventions of identity seems to have some overlap with ideas that William Darity also developed Lakshmi
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