pgduarte's blog

Macro once again, or "it is history, stupid"

                          The blogosphere experiences another burst of historical/methodological discussions about macroeconomics: was new cla ssical macroeconomics of Lucas and Sargent, among others, an empirical or methodological revolution? Read more

We Can Blog it!

  The more reflexive mode brought by the financial crisis to macroeconomics made economists more outspoken about methodological, historical and sociological issues: how have we come to the DSGE dogma? What are its limitations? How can we produce alternative knowledge? Do publishing practices favor a "monolithic" thinking, and if so, how can we change it? What about the graduate training in economics? Read more

Macroeconomics in Perspective

History of Economics and Images: static and dynamic

  There has been an important movement towards making available on the web a host of open courses. One can easily access courses from major American universities such as Harvard, MIT, Yale and Princeton, among others (see the Open Courseware Consortium for similar initiatives worldwide). Read more

Paul Samuelson and the History of Economics

    Paul Samuelson is well-known to have been a compulsive citer and for having a particular Whig program for the history of economics. Until late in his career he kept writing on "old economists" like Cassel, Böhm-Bawerk, and Ricardo, for example (for instance, see his co-authored article on Ricardo published in HOPE in 2006) . Read more

ASSA Meetings: a Showcase for the History of Economics?

    Economists and historians of economics have related differently over time, and the past of the discipline has then served for varied purposes. The matter compounds when we take into account that it has been and it currently is the case that most historians of economics are in economics departments. Besides sharing the same institutional space, they also share one important event: the annual meeting of the Allied Social Science Associations (ASSA). Read more

Jurassic Economics at ASSA-AEA 2013

  The History of Economics Society (HES) held four sessions at the Allied Social Science Associations (ASSA) 2013 meeting, in San Diego, Jan. 4-6: “Keynes and the International Monetary System” (co-organized by Robert Dimand and Rebeca Gomez Betancourt), “Writing MIT’s History” (organized by E. Roy Weintraub and having our blog fellow Yann Giraud presenting), “Looking for Best Practices in Economic Journalism: Past and Present” (organized by our blog fellow Tiago Mata), and “Real Business Cycle after Three Decades: Past, Present and Future” (a panel discussion co-organized by Warren L. Young and Sumru Altug).

  I will here focus only on the latter. Participants included Nobel Prize Laureates and central figures of the Real Business Cycle (RBC) macroeconomics Read more

The Visible Hand Writing History

[We are inaugurating something new in this blog: a jointly written post!]

  Let’s propose an exercise (simplistic in many dimensions). Read the following abstract of a paper and decide whether or not it looks publishable in either A) a top economics journal or B) a top history of economics journal? Read more

Bretton Woods, Past and Present: 3. Models in Economics

I cannot resist but to start quoting Mary Morgan's second entry to the second edition of the New Palgrave: “Modeling became the dominant methodology of economics during the 20th century.” If models were not a “recognized category in discussions about methodology” in the late 19th century, they have become central to economics after the 1930s. Models are “complex objects constructed out of many resources” that come from disparate sources and serve as measuring instruments (as argued by Marcel Boumans in his 2005 book How Economists Model the World into Numbers), and are autonomous agents that mediate theories and the real world (as argued by Mary Morgan and Margaret Morrison in their chapter to the 1999 edited volume Models as Mediators). And, returning to the Palgrave entry, models function in different ways for different purposes: Read more

HES 2011, Paul Samuelson and the Beatles

The 2011 Annual Meeting of the History of Economics Society (HES) took place in South Bend, Indiana, at Notre Dame University, under the auspices of Philip Mirowski, probably with fewer attendees than usual.

This time there were new elements in the way the meeting was organized: there were more plenary sessions, several of them with non-historians of economics (David Kaiser (MIT) on physics and economics; John Cassidy (New Yorker) on "How Markets Fail"; Rakesh Khurana (Harvard Business School) on the professionalization of business education), besides the regular HES Presidential Address, by Jerry Evensky (Syracuse University). There was also a screening of the documentary "Inside Job", followed by discussion led by our buddy Tiago Mata. Read more