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The idea that economics has recently gone through an empirical turn –that it went from theory to data– is all over the place. I argue that this transformation has been oversimplified and mischaracterized.

Carbon pricing still has the potential to be a powerful tool contributing to emissions reductions, but it is clearly no panacea.

How much does the standard theory of externalities and public goods really say?

Martin Luther King, Jr. and other civil rights leaders relied on black entrepreneurs to make their work possible

“Four men sat at a table. Raised sixty floors above the city, they did not speak loudly as one speaks from a height in the freedom of air and space; they kept their voices low, as befitted a cellar.”

And electric vehicles don’t do a lot better

The country’s flawed insurance model, driven by greed, leads to inefficiency, inequality, and denied care - a colossal scam that has sparked fury across the nation.

The distinguished economist talks about the power of entropy in shaping a new economic reality and viewing current events. His new book, Entropy Economics: The Living Basis of Value and Production, challenges flawed mainstream models that lead to distortions and bad policy.

A response to Phillip Magness in The Wall Street Journal

David Mussington, a leading expert on cybersecurity, reveals what’s worrying him, from Facebook to foreign interference.

Inflation and corporate profits, a further discussion, responding to Servaas Storm

Repeat after me: How much pipe should Fed plumbers lay if Fed plumbers like to lay pipe?

Why is this a surprise?

“Facebook is undermining our country, our democracy.”

In this initial blog post we wish to situate microeconomics as a field of social enquiry.