Quote of the Day

His contributions represent a particular sort of genius: insight which not only seems obvious in hindsight, but which so substantially transforms the discipline that its effect is hard to appreciate all these years later. Is it really possible that family choices were not seen as appropriate material for economic analysis back in the day? [. …

Paul Krugman Remains as Arrogant and Epistemically Closed as Ever

Don't believe me? Read this, in which he reviews Thomas Piketty's new book and says the following: So what’s a conservative, fearing that this diagnosis might be used to justify higher taxes on the wealthy, to do? He could try to refute Mr. Piketty in a substantive way, but, so far, I’ve seen no sign …

Picking at Piketty

Thomas Piketty's Capital in the Twenty-First Century has basically been declared the Greatest Book in the History of Ever by those on the port side of the political divide. The book declares income inequality to be a serious problem, and it prescribes massive confiscatory taxes in order to solve that problem. (I believe income immobility …