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Sraffa’s Revolution in Economic Theory
Dec 26, 2016
The prominence of the debate over ‘reswitching’ has obscured the importance of Piero Sraffa’s profound contribution to economics. It’s time to revisit and build on that body of work
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Is That New Procedure Proven? MedTech Billing Codes and Evidence-Based Medicine
Mar 2, 2026
Introduced by the AMA in 2001, Category III CPT codes aimed to streamline financial reporting. Instead they became entangled in a politically driven, zero-sum reimbursement game.
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A Belief in Meritocracy Is Not Only False: It’s Bad for You
Apr 2, 2019
Despite the moral assurance and personal flattery that meritocracy offers to the successful, it ought to be abandoned both as a belief about how the world works and as a general social ideal.
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Autos and the European Union: Another Crash?
Aug 30, 2021
In Europe, imbalances in the structure of the automotive and a lack of industrial policies risk creating a deadly cocktail for millions of European workers just as the auto sector is undergoing decisive changes.
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From Eric Garner to George Floyd: How History Repeats Itself
May 30, 2020
The Great Migration brought many freedmen to the North, and the reaction to that brought the Southern Mind to northern police officers as well.
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The Dark Side of Discrimination in the Economics Profession
Nov 3, 2017
How Women Are Forced to Conform to the Research Habits and Interests of Men
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Bretton Woods, Past and Present: 3. Models in Economics
Sep 24, 2011
I cannot resist but to start quoting Mary Morgan’s second entry to the second edition of the New Palgrave: “Modeling became the dominant methodology of economics during the 20th century.”
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The Mythology of Horizontal Merger Efficiencies
Aug 31, 2023
Economists had to distort economic theory to fashion their merger “efficiency” arguments
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Economists Warn: Trump’s Intel Move Looks Like Performance, Not Policy
Aug 26, 2025
Two economists who have studied Intel warn that Trump’s move to take a stake in the company amounts to flashy optics, incoherent strategy, and a creeping politicization of economic policy.
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In Memoriam, Jack Treynor
Jun 20, 2016
Remarks at a memorial service for pioneering financial analyst Jack Treynor Memorial, MIT Chapel, June 19, 2016
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What About the Questions That Economics Can’t Answer?
Sep 24, 2012
Can economics be morally centered? And perhaps more importantly, should it be?
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Feelings Offstage
Apr 15, 2012
INET Berlin 2012 - back home again. On stage, it’s been a huge amount of claims, assertions, and arguments about what went wrong, about what exactly happened, about why this time was different, about what will certainly happen, and about what remains deeply uncertain, about what “we” shall do about it, about what “we” could do better.
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Our Hansen Moment
Dec 5, 2013
The main goal of the macroeconomist is to understand the sources behind business cycles and the behavior of financial markets in the modern economy.
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Crying Wolf: Why Negotiating Lower Drug Prices Will Not Harm Pharmaceutical Innovation
Jul 22, 2024
Increasing evidence that the IRA is probably not harming pharmaceutical innovation.
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Bracing for Trumponomics
Nov 29, 2016
What we’re reading: Some analysts expect dramatic changes and a short-term boost to the US economy, others predict continuity — and see Trump’s election reflecting a sea change in the global order