Economic Theory

The 2014 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

… Goes to Jean Tirole, whom I have referenced in my own research, and whom I think was an interesting (timely?) choice for the prize.  His research is precise, and covers industrial organization, markets, and regulation.  He has also written and co-written some excellent advanced text books. I look forward to hearing more from him over the coming years. Read more →

Economics to non-economists – Part II

One of the great problems economics has as a discipline right now is its inability to communicate clearly with non-economists.  To make it worse, people like Paul Krugman, who are political commentators, use the language of economics to lend credibility to their political assertions – typically using very bad economics.  More than anything, the politicization of macoeconomics has contributed to… Read more →