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Real-World Economics

@RealWorldEcon

Real-World Economics Review, 25,712 subscribers. Real-World Economics Review Blog, 19,104 followers

rwer.wordpress.com
Joined March 2009
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Big guns on trade: Ricardo via Malkiel rwer.wordpress.com/2025/05/2… via @RealWorldEcon
Big guns on trade: Ricardo via Malkiel

Big guns on trade: Ricardo via Malkiel

from Peter Radford Wheeling out the big guns at last! It’s taken a while, but we’ve arrived.  At long last we have an article in the Financial Times — our bastion of global financial goings-on — th…

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new issue of RWER rwer.wordpress.com/2025/05/1… via @RealWorldEcon
new issue of RWER

new issue of RWER

real-world economics review issue no. 110, May 2025   download whole issue The 2024 Nobel Prize for Economics: ​​​​​​​an example of how conventional economics misrepresents realityTed Trainer      …

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China adds more than $400 billion to GDP in Q1, Trump loses $25 billion rwer.wordpress.com/2025/05/1… via @RealWorldEcon
China adds more than $400 billion to GDP in Q1, Trump loses $25 billion

China adds more than $400 billion to GDP in Q1, Trump loses $25 billion

from Dean Baker Donald Trump is not very good with arithmetic, but that is not a reason the rest of us should not use it. The US economy shrank at 0.3 percent annual rate in the first quarter. This…

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The sorry state of economics rwer.wordpress.com/2025/05/0… via @RealWorldEcon
The sorry state of economics

The sorry state of economics

from Lars Syll Page after page of professional economic journals are filled with mathematical formulas leading the reader from sets of more or less plausible but entirely arbitrary assumptions to p…

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What Keynes meant by ‘We simply do not know’ rwer.wordpress.com/2025/05/0… via @RealWorldEcon
What Keynes meant by ‘We simply do not know’

What Keynes meant by ‘We simply do not know’

from Lars Syll With the words ‘We simply do not know,’ Keynes describes in his General Theory what he calls ‘objective uncertainty.’ There is simply no way in which one can foresee certain events o…

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A, belated, response to Wolf rwer.wordpress.com/2025/04/2… via @RealWorldEcon
A, belated, response to Wolf

A, belated, response to Wolf

from Peter Radford It is a question of distribution. A friend of mine, here in Vermont, has disrupted my enjoyment of a pleasant spring morning by reminding me of what Martin Wolf says about populi…

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Garbage Time: running out the clock on America? rwer.wordpress.com/2025/04/2… via @RealWorldEcon
Garbage Time: running out the clock on America?

Garbage Time: running out the clock on America?

from Peter Radford “Do you not weep? Other sins only speak, murder shrieks out” Webster is well known for the darkness of his plays. When he says murder shrieks out, I wonder which murder he is ref…

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Economics textbooks — peddling lies about money and finance rwer.wordpress.com/2025/04/2… via @RealWorldEcon

Economics textbooks — peddling lies about money and finance

from Lars Syll For several years now, yours truly has been teaching an introductory economics course every fall for future social studies teachers. Alongside a few of my own books, Klas Eklund’s Vå…

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Rational expectations, uncertainty, and learning rwer.wordpress.com/2025/04/1… via @RealWorldEcon
Rational expectations, uncertainty, and learning

Rational expectations, uncertainty, and learning

from Lars Syll The rational expectations hypothesis presupposes — basically for reasons of consistency — that agents have complete knowledge of all of the relevant probability distribution function…

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The economic fallout of European rearmament rwer.wordpress.com/2025/04/1… via @RealWorldEcon
The economic fallout of European rearmament

The economic fallout of European rearmament

from C. P. Chandrasekhar  With US President Donald Trump leaning towards Russia when advocating a stop to the war in Ukraine and making clear that the US will no longer foot the bill to ensure Euro…

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Ignoring patent monopolies: free trade retaliation against Trump rwer.wordpress.com/2025/04/0… via @RealWorldEcon
Ignoring patent monopolies: free trade retaliation against Trump

Ignoring patent monopolies: free trade retaliation against Trump

from Dean Baker Most forms of retaliation that countries are planning in response to Donald Trump’s tariff-fest involved higher tariffs and import restrictions. These measures may hurt the US econo…

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Trump — uncertainty and chaos rwer.wordpress.com/2025/03/3… via @RealWorldEcon
Trump — uncertainty and chaos

Trump — uncertainty and chaos

from Lars Syll Uncertainty and chaos are the final factors in Trump’s operation. The winners, broadly, will be financial speculators with fast fingers and (especially) inside knowledge. Those in po…

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American Monarchy rwer.wordpress.com/2025/03/2… via @RealWorldEcon
American Monarchy

American Monarchy

from Peter Radford Let’s get to the heart of the situation: the American government is not functioning as a liberal democracy. That much is clear. There is no oversight, no communication, and no pr…

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The pretence-of-knowledge syndrome rwer.wordpress.com/2025/03/1… via @RealWorldEcon
The pretence-of-knowledge syndrome

The pretence-of-knowledge syndrome

from Lars Syll What does concern me about my discipline, however, is that its current core — by which I mainly mean the so-called dynamic stochastic general equilibrium approach — has become so mes…

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Crypto and Donald Trump’s strategic baseball card reserve rwer.wordpress.com/2025/03/0… via @RealWorldEcon
Crypto and Donald Trump’s strategic baseball card reserve

Crypto and Donald Trump’s strategic baseball card reserve

from Dean Baker The Republicans and Donald Trump seem set on establishing a strategic crypto reserve. They are claiming this will somehow be an important source of economic security for the country…

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Businesses and DEI: Corporations don’t maximize shareholder value rwer.wordpress.com/2025/02/2… via @RealWorldEcon
Businesses and DEI: Corporations don’t maximize shareholder value

Businesses and DEI: Corporations don’t maximize shareholder value

from Dean Baker CEOs and other top management in the U.S. are far more highly paid than their counterparts in Europe and Asia. NYT columnist Jeff Sommer had an entertaining piece on how many of the…

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Newton’s lost revolution: Why his most radical work remains unread rwer.wordpress.com/2025/02/2… via @RealWorldEcon
Newton’s lost revolution: Why his most radical work remains unread

Newton’s lost revolution: Why his most radical work remains unread

from Asad Zaman The Puzzle of Newton’s Mind Isaac Newton is often celebrated as the ultimate rationalist, the scientist who unlocked the mysteries of the cosmos and ushered in the modern age. But t…

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Businesses and DEI: Corporations don’t maximize shareholder value rwer.wordpress.com/2025/02/2… via @RealWorldEcon
Businesses and DEI: Corporations don’t maximize shareholder value

Businesses and DEI: Corporations don’t maximize shareholder value

from Dean Baker CEOs and other top management in the U.S. are far more highly paid than their counterparts in Europe and Asia. NYT columnist Jeff Sommer had an entertaining piece on how many of the…

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What is wrong with game theory rwer.wordpress.com/2025/02/1… via @RealWorldEcon
What is wrong with game theory

What is wrong with game theory

from Lars Syll Back in 1991, when yours truly earned his first PhD​ with a dissertation on decision making and rationality in social choice theory and game theory, I concluded that “repeatedly it s…

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Real corruption that could meet republican cost-saving targets rwer.wordpress.com/2025/02/1… via @RealWorldEcon
Real corruption that could meet republican cost-saving targets

Real corruption that could meet republican cost-saving targets

from Dean Baker The news has been filled with stories in recent days about Republicans desperately hunting for $2.0-$2.5 trillion (2-3 percent of the budget) in budget cuts over the next decade to …

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