Ever since the Crash of 2008 there has been a widespread recognition, both among economists and the general public, that economic theory has failed. But…
By William K. BlackCriminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined. Some of the world’s best economists, George Akerlof and Paul Romer, praised the S&L re…
THE THEORY OF INTERSTELLAR TRADE 1. PAUL KRUGMAN,† Article first published online: 14 SEP 2010
This article extends interplanetary trade theory to an interstellar setting. It is chiefly concerned with the following question: how should interest…
He did critical work in topics such as fat tails and fractals and his stock as a thinker rose considerably after the financial crisis. Losing Allais, McKenzie, and Mandelbrot in one week is a significant decline in the number of fundamental thinkers.
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