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Tyler Cowen at Marginal Revolution has an interesting post discussing methodological individualism. As a fan boy for methodological individualism, I felt that his criticism of it as a method went a bit far. Here I just want to describe why.
TVHE was founded by four newly minted economists in 2007. A series of different New Zealand economists have written on the site since, with the shared goal of clearly communicating economic issues and concepts. Air New Zealand kindly explained to us what the blog was about back in 2011 when they published the following in […]
Note: I want you all to be highly critical of my posts on factor shares – and where you can throw literature at me. I wrote a bunch of posts in a single day based on one book (and some prior knowledge), I have no appeal to authority here and would love to have your […]
I see that the Listener (ht Agnitio) has picked up on this piece on psychology today (ht Andrew F), which claims that an education in economics inherently changes our behaviour making economists worse citizens. At first brush I would like to note that we have a psychology lecturer suggesting that this implies more people should study […]
I just noticed an article on the industrial research limited site discussing how NZ needs to think. Money quote is: What I take from that is we need to think laterally, not literally. When we think about investing in particular sectors, we must realise we will need capabilities that aren’t necessarily obvious to us. We […]
I was glad that James discussed a bunch of the literature that uses habits and habit persistence yesterday. I have run into the idea of habit persistence in consumption before while doing macroeconomic modeling, and it was good to see him bring it back to the observed phenomenon of reference dependence in individuals – as […]