Economics

To recap, New Keynesians tell us that income and labor usage increase when something reduces labor supply at the individual level, as long as the nominal interest rate does not adjust upward.
This miracle is exactly what centuries of tax collectors have dreamed about. They could take a larger share of the economic pie and in doing so [...]

Roman Frydman and Michael Goldberg at the FT’s Economist’s Forum:
Behavioural economists have uncovered much evidence that market participants do not act like conventional economists would predict “rational individuals” to act. But, instead of jettisoning the bogus standard of rationality underlying those predictions, behavioral economists have clung to it. They interpret their empirical findings to mean [...]

Ryan Avent, following up on Ezra’s post on the policy prestige of economists in general and benefit/cost analysis in particular, writes:
[I]f we can’t use cost-benefit, how do we make these decisions? How in hell do we figure out which trade-offs are sound ones and which are damaging to society on net? To the economist, and [...]