"Words ought to be a little wild, for they are the assault of thoughts on the unthinking" - JMK
- Mark Blaug, perhaps the best known historian of economic thought, passed away on the 18th (HT Tyler Cowen). This is a paper of his on how nobody does history of economic thought anymore. I've been lucky enough to have had a class offered in the subject both in undergrad and now in grad school, by two great professors who also have a deep interest in history of thought (Robert Blecker and Clyder Haulman). And of course readers know that this blog is practically a "history of Keynesian thought" a lot of the time.
- Speaking of this blog's work on Keynes - the moment I've been dreading has happened! One of my professors has become aware of the existence of F&OST! Not so terrifying as I imagined it - my math econ professor emailed to say my German preface post has been discussed favorably on an economic history listserv, and he offered some other literature. I can deal with one of the more intimidating professors we have reading what I think is one of my better posts :)
- Krugman and Thoma point us to Diamond and Saez offering a new rendition of Edgeworth's old argument for a progressive tax. This - I should add for people entranced by flat tax schemes - is pretty widely accepted by economists. Dan Klein of GMU accepts the logic of it (if not the policy... I'm not sure what his exact views on taxes are). Bob Murphy will give you counterarguments here (I should also note that most economists agree with Bob on interpersonal utility comparisons, but would not draw all the conclusions from that that he does).
- I got this book in the mail yesterday: Beyond Stock Stories and Folktales: African Americans' Paths to STEM [science, technology, engineering, and mathematics] Fields. I'll be reviewing it for the Journal of Negro Education once I get a break from classes this December. Part of my continuing effort to build a foundation (and a chunk of a CV) on science and engineering labor market research.
Demand, Supply, and Macroeconomic Models
19 hours ago