Articles

Has the servant’s servant become the master’s master?

I always think of Adam Smith when I hear the term ‘division of labour’ - but I’m being cured of this by reading a bit more about Britains late 18th century in Jenny Uglow’s The Lunar Men.

At the heart of the Eurocrisis lies a vicious circle where once there was a virtuous one.

The Collapse of Free Market Macroeconomics

Here is a talk I gave recently at Wake Forest University.

The title of the conference, “Paradigm Lost,” is an obvious combination of two references.

I think I am on the track of what ‘New Economics’ is, and one could roughly sum up two days of presentations in two diagrams:

In science, empirical disciplines such as physics, chemistry, history, and parts of sociology and political science, reason from facts.

FT Alphaville has picked up on my friend James Sweeney’s latest, and since James cites the latest writings by other friends Zoltan Pozsar, Manmohan Singh, as well as my own most recent, the piece reads like a discussant’s comments on a shadow banking symposium.

Judy Klein is Professor of Economics at Mary Baldwin College in Virginia. She is the author of Statistical Visions in Time: A History of Time Series Analysis 1662-1938, (Cambridge 1997) and co-editor of The Age of Economic Measurement (Duke 2001), and co-author of The Strange Career of Cold War Rationality (in preparation)