Deductive Economic Rationality and Its Limitations

Lynne Kiesling In this really outstanding post on FT.com’s Economists Forum, Roman Freedman and Michael Goldberg point out some of the essential flaws of the underlying concept of “rationality” as it is defined and used in economics: The centrepiece of this standard of rationality, the so-called “Rational Expectations Hypothesis”, presumes that economists can model exactly … More Deductive Economic Rationality and Its Limitations

“Blended Deceit from the Nanny State”

Lynne Kiesling If you are a wine fan (oenophile if you’re feeling fancy) and you are not reading Dr. Vino regularly, you are missing a real treat. Dr. Vino is a political scientist who, in addition to having a good nose and good taste and a good palate, is an expert on the political economy … More “Blended Deceit from the Nanny State”