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Henry Hazlitt was a unique public intellectual, who strove to not only to enlighten the general public with his writings, speeches, and appearances on TV and radio, but sought to contribute to the specialized disciplines of economics and philosophy. The evidence supporting my conjecture that...
Persistent link: https://www.econbiz.de/10014171239
This essay is the penultimate draft of Chapter 1 of a book that carries the working title Macroeconomics as Systems Theory: Emergence, Institutions, and Economic Process. This book examines the material of macroeconomic theory by looking through a different analytical window from what most...
Persistent link: https://www.econbiz.de/10012870498
Nicholas Vriend (2002) asked whether F.A. Hayek was an “ace,” and answered affirmatively. By “ace,” Vriend meant someone who worked with agent-based modeling. To be sure, Hayek could not have worked with agent-based models because that platform did not exist when Hayek was developing his...
Persistent link: https://www.econbiz.de/10012911904
What is the connection between mass surveillance and institutions of individual agency, freedom, and self-governance? Recent literature on “surveillance capitalism” argues that over the past two decades, the capitalist system has been transformed by Big Tech companies, which have commodified...
Persistent link: https://www.econbiz.de/10014260333
This paper discusses the unique features of Austrian economics and some of the recent contributions of this school of thought. We organize these contributions in different research “buckets” in the hope that this will be a useful guide to readers while demonstrating the ongoing relevance of...
Persistent link: https://www.econbiz.de/10014260541
This paper analyzes the political economy of the creeping militarization of U.S. foreign policy. The core argument is that in integrating the 3D approach -- defense, development, and diplomacy -- policymakers have assigned responsibilities to military personnel which go beyond their comparative...
Persistent link: https://www.econbiz.de/10014186464
This essay is written for a symposium on Luigino Bruni's The Genesis and Ethos of the Market. That book identifies a tradition of Neapolitan civil economy that arose in the 18th century, and which the author opposes to the more familiar tradition of Smithian political economy. The difference in...
Persistent link: https://www.econbiz.de/10013073883
DSGE modeling remains the workhorse of contemporary macroeconomics despite a growing number of critiques of its ability to explain the aggregate properties of an economic system. For the most part, those critiques accept the DSGE presumption that traditional macro data are primitive, causal...
Persistent link: https://www.econbiz.de/10012945444
Game theory, as originally envisioned, is a tool to theorize about social interaction. As game theory became geared towards prediction and control, branching into mechanism and market design theory, its mathematical sophistication focused on solution spaces and, ultimately, the attainment of...
Persistent link: https://www.econbiz.de/10012860327
In 2014, the State Council of the Chinese Communist Party announced the institution of a social credit system by 2020, a follow-up to a similar statement on the creation of a social credit system issued by the State Council in 2007. Social credit ratings of the type being developed by the State...
Persistent link: https://www.econbiz.de/10013323861