Called The Case for Concerted Action - HT Hedlund. I'm following it now and will of course share material I find interesting.
Different names for different things proliferate in this community, but this blog offers a name I haven't heard before: "New Cambridge Macroeconomics".
I should walk back from one claim I mad the other day about the post-Keynesian blogosphere: the Sraffian position is indeed well represented. I think of Sraffa as a single interesting but not particularly consequential critique that happened several decades ago, rather than a productive research program, but obviously there are a lot of people who feel differently and they can be found on blogs. So I'll concede that. I do think the general point that PKs are harder to get a sense of than Austrians from the blogosphere holds. That's not a critique of PKs or Austrians, btw - just an observation.
Wednesday, November 7, 2012
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Dr. Michael Emmett Brady has criticised the Post Keynesians for having a definition of uncertainty that devolves into nihilism, and for the Austrians for not thinking through the implications of the term uncertainty (in the sense of Ellsbergian ambiguity).
ReplyDeleteWhile Piero Sraffa is interesting from a history of economic thought perspective, he is not the economist to build on. That economist would be Lord Keynes. John Maynard Keynes's theory of effective demand, with mathematically rigorous groundings in Book V of The General Theory.
http://www.amazon.com/review/R3FMR917SKP0IM