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Real-World Economics Review Blog
26.01.2025
from Lars Syll ‘New Keynesian’ macroeconomist Simon Wren-Lewis has a post on his blog discussing how evidence is treated in modern macroeconomics (emphasis added): It is hard to get academic macroeconomists trained since the 1980s to address this question, because they have been taught that these models and techniques are fatally flawed because of the Lucas critique…
29.01.2025
from Dean Baker One outcome of the Donald Trump clown show is that we can safely say the period of U.S. hegemony in the world has come to an end. His erratic policies and bizarre statements have undoubtedly convinced almost everyone that the United States cannot be viewed as a reliable ally, if not actually…
01.02.2025
DOGE, a new branch of the US government, does not escape the Iron Law of Bureaucracy. It is hiring. It´s also wrecking the US by trying to neuter almost everybody else working for the civil branch of the US Federal government. It reminiscent of the demise of the USSR in 1991. The USSR consisted of…
02.02.2025
from Dean Baker Donald Trump is the world’s leading expert in getting things wrong and one thing he gets wrong bigly is the value of the U.S. domestic market. Trump seems to believe that our domestic market is incredibly valuable to the rest of the world and that access to it should allow him to…