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Positive Methodology in Language

Wednesday, September 10th, 2014 by posted in Epistemology, Law, Philosophy.
why-language-brain

The iconoclastic religion of scientism looks to have achieved a new victory. Reporting in The Chronicle of Higher Education, Michael Chorost informs us that neuroscientists recently uncovered how the brain reacts to language, and what it means in understanding words

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On Krugman’s Arrogance

Monday, August 4th, 2014 by posted in Economics, Epistemology.
krugmanpic

Economist Paul Krugman’s New York Times column dropped off my reading list months ago. His conscious effort to become a kind of parody of himself, a holier-than-thou hero fighting off the scourge of ignorant free marketeers, was too much of

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Cultonomics and the Austrian School

Thursday, July 31st, 2014 by posted in Economics, Epistemology.
krugman pray

Mainstream economists have long derided the Austrian School as a “cult”. Professor Walter Block recounts stories from Nobelists Gary Becker and James Buchanan off-handedly referring to the cultish Austrians. When pressed by Professor Block, Becker said, “By a cult I

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What Academic Freedom?

Monday, March 10th, 2014 by posted in Education, Epistemology, Law.
academicfreedom

“Academic freedom” is one of those phrases that evokes little protest and little emotion. In fact, these days it has become pretty boring. The concept is taken purely at face value. In our liberal age, the open vetting of ideas

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Noahgreement on similarities between Austrians and New Classicals

Friday, February 7th, 2014 by posted in Economics, Epistemology, Methodology.
Modern-Car-Versus-Classic-Muscle-Car

I’ve got a confession to make: my favourite economics blog name is Noah Smith’s “Noahpinion”. It’s a really great blog name. With the niceties out of the way, let’s address Smith’s latest screed: “How the New Classicals drank the Austrians’

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Can the State Justify Welfare Spending?

Monday, February 3rd, 2014 by posted in Capitalism, Civil Liberties, Economics, Epistemology, Law.

The purpose of this brief essay is to present an argument that state spending on welfare, which necessarily rests on the state’s power to extract funds from the public, cannot be justified.  An argument in favor of state sponsored welfare

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The Ultimate Microfoundation: Human Action

Saturday, January 25th, 2014 by posted in Economics, Epistemology, Methodology.
Find the book.

Much fuss is made in macroeconomic circles over so-called “microfoundations”: microeconomic justifications for macroeconomic models, as opposed to macro models that make ad hoc assumptions about utility, preferences, and price setting. People like to bring up the “Calvo pricing model”,

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Keynesians Wrong on Sequester Just Like Stimulus

Saturday, January 4th, 2014 by posted in Economics, Methodology.
RomerBernstein

It is well known that the Christina Romer / Jared Bernstein report, issued in January 2009 when Obama first came into office, got things exactly backwards. At the time, unemployment in the U.S. was 7 percent and change. Romer, who

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Subjective Value and Objective Good

Thursday, October 17th, 2013 by posted in Economics, Epistemology, Law, Methodology.
ThinkingMan

Value is subjective. This is one of the cornerstones of modern economics. What’s known as the “marginal revolution” of the late 19th century was responsible for bringing the axiom from intellectual musing to orthodox dogma. Three economists – Leon Walras,

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The Use of Knowledge at the Bank of Canada

Friday, August 16th, 2013 by posted in Economics, Methodology, Socialism.
HomerAtControls

The Bank of Canada’s latest quarterly review suffers from the fatal conceit. Although technically the whole central banking system is a fatal conceit, one of the articles particularly highlights the complete ignorance and arrogance of Canada’s central bankers. Nii Ayi

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Poloz’s First BoC Interest Rate Statement

Friday, July 19th, 2013 by posted in Capitalism, Economics, Methodology, Regulation.
stephen-poloz-bank-of-canada

Bank of Canada Governor Stephen Poloz said that interest rates will remain low and the economy will grow due to “accommodative financial conditions.” His logic goes: The US economy is recovering ergo Canadian exports will grow therefore solid Canadian business

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Econ 101 with Stephen Poloz

Saturday, July 13th, 2013 by posted in Economics, Education, Methodology, Philosophy.
poloz

On June 19th, Stephen Poloz gave his first major speech as Governor of the Bank of Canada. Reading through it, it’s clear that Poloz – like his predecessor – has no real understanding of economics. So I’ve decided to pick

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Cannot Wipe Even Your Own A** but Will Run the Country

Friday, June 21st, 2013 by posted in Lifestyle, Methodology, Philosophy.
india-10206 teaser

For the last few days, story of one Komal Ganatra has been making headlines in India. Her dad, now retired, earned his living as a school teacher in India. Five years back, she was married off to an Indian immigrant

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What’s So Special About Economics?

Monday, June 10th, 2013 by posted in Economics, Education, Epistemology, Methodology, Philosophy.
got_choice teaser

Unlike what is commonly believed, economics is not about money, or profit, or investments, or capitalism, or wages, or unemployment or stocks and bonds or about any other buzzword you may have heard or read in the media. Yes, economics does study

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Generation Why

Friday, May 24th, 2013 by posted in Education, Epistemology.
A_woman_thinking

I probably loathe the American compulsory education system more than anyone I’ve ever met. I despise it on deeply personal level, on an ethical level, and from an efficacy standpoint. I despise the people involved; the administrators, the so-called teachers,

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An Austrian Indifference Curve vs. The Value Scale

Wednesday, May 22nd, 2013 by posted in Economics, Education, Methodology.
apples-oranges

From the introductory undergraduate to the advanced Ph.D. courses in economics, students are taught that the concept of the indifference curve is very useful in analyzing human choice. I am emphasizing the term useful for a reason. No one ever

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Mark Carney’s False Ideology

Mark Carney

Neil Macdonald of the CBC recently did an investigative piece on central bankers and what they’re doing to the world’s economies. Mark Carney was featured heavily. He told Macdonald, “there is no secret cabal orchestrating things,” despite CBC’s own findings

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Debt, Growth, and the Illusions of Social Scientism

Saturday, April 20th, 2013 by posted in Economics, Epistemology.

For all the politicians and economists who have been doggedly nonchalant about escalating levels of public debt, this was a good week. Making their week was the revelation that the statistical calculations in an influential paper were off. It is

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Liberty Is A State of Being

Monday, July 9th, 2012 by posted in Epistemology, Methodology, Philosophy.
by Eric Sharp

Sadhguru Vasudev cautions those that want to change the world to first rid their own hearts of fear and pain, before embarking to change the way others live — otherwise one will only transcribe one’s own darkness upon the world

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The Incoherence of “National Interest”

Wednesday, June 13th, 2012 by posted in Economics, Methodology.
parliament teaser

Following politics where I live is like riding a rollercoaster ad nauseam. If you’re from Balkans too or have ever heard the rhetoric of a Balkan politician, you could have not possibly escaped the use of the word “national interest.”

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