The New Emperor’s Old Clothes (Project Syndicate op-ed)
My Skeptical View of the AI Frenzy After nearly two years of focusing on book writing, I returned to an
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Whose company? Whose oversight?
https://www.wsj.com/business/elon-musk-spacex-loan-269a2168 The WSJ story is interesting. Some WSJ reader comments even more so. They defend Musk on three grounds: On
Read MoreThe dangers of dismantling local zoning rules
Well said Joel Kotkin! Zoning rules have become a target in many libertarian circles. Joel Kotkin who I believe is
Read MoreThe Selective Sovietization of American Capitalism
Project Syndicate Op-ed This oped, just published in Project Syndicate memorializes Janos Kornai. I never met Janos but we published
Read MoreHow the orthodoxy in academic and policy macroeconomics has changed.
Per Larry Summers (quoted in Robert Armstrong’s FT piece) “The first edition of Paul Samuelson’s textbook [Economics from 1948]
Read MoreKabul on the Charles
The day Kabul fell I found myself at a Peet’s in Harvard Square. I had an inkling the barista might
Read MoreGood things come from those who hustle
Today’s Wall Street Journal has an interview with a U Penn historian, whose image of the Founding Fathers is similar
Read MoreCapitalism Won’t Thrive on Value Investing Alone (just published HBR.org oped)
First oped in more than a year (when I was maniacally trying to get my medical innovation course done… Trigger
Read MoreShorter Simplified version
Keynes thought it would be ‘splendid’ if economists became more like dentists. Disciplinary economics
has instead become more like physics in focusing on concise, universal propositions verified
through decisive tests. This focus, I argue, limits the practical utility of the discipline because universal
propositions form only a part of new policy recipes. I further suggest that, as in engineering and
medicine, developing economic recipes requires eclectic combinations of suggestive tests and
judgement. Additionally, I offer a detailed example of how a simulation model can help evaluate
new policy combinations that affect the screening of loan applications.
Bob Aliber remembers George Schultz
The venerable sage, Bob Aliber (and co-author of Manias, Panics, and Crashes), sent along this fine memory of the late,
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