–“natural rate theory”- dominated interpretations of economic trends and policy prescriptions since the 1970s. Public policy …. Economic trends were filtered through the lens of the “natural rate theory,” focusing on labor market institutions only and … confronts the economic trends with the interpretations of the “natural rate theory” and argues that they hardly fitting the …

The best of all possible worlds -- The key to all things -- Blurry vision -- Economism and economics -- Ideas in the …

Milton Friedman's influence on the economics profession has been enormous. In part, his success was due to political …. Friedman's professional triumph is testament to the weak intellectual foundations of the economics profession which accepted … ideas that are conceptually and empirically flawed. His success has taken economics back in a pre-Keynesian direction and …