Friday, September 5, 2014

Randall Wray on Heterodox versus Neoclassical Economics

A few months old, but an interesting discussion by L. Randall Wray (as interviewed by Stephanie Kelton) on left heterodox versus neoclassical economics:
“Randy Wray on Krugman and the Frustration of the Heterodox,” Stephanie Kelton’s Podcast, 28 April 2014.
There are also a number of other podcasts here.


  1. Speaking of heterodox, missing you over at the John C Calhoun Memorial Bog. And speaking of that, have you seen the new book Loathing Lincoln? I read the first bit and it looks interesting.

    1. Hi Ken B,

      I've not seen the "Loathing Lincoln" book, but some quick reading of reviews on the net does indeed suggest it is interesting.

      To be honest, after Bob's recent Krugman/alleged German austerity debacle of a post, there hasn't been much to interest me over there!

      Also, I'm rather deeply immersed in Donald Gillies’ book Philosophical Theories of Probability at the moment. Ah, the mysteries of probability theory!

  2. Well, there's the fun of watching Murphy argue that if a lobotomy was done in, under, over, beside, or within the same area code as a state hospital it was a state action.
    Philippe and I also exposed the neo-confederate nature of rothbardism, before Murphy silently deleted my comments on the topic.
    He got apoplectic when I recalled his stated intention to delete anything like that, and yet he does it.

  3. Banned permanently! Rather explodes Murphy's pretense about wanting serious debate I'd say.

    1. A farce. That blog is a farce.

      And actually, rereading the thread I can't even see why he banned you... Weren't you agreeing with him on his main point?

    2. I opined to Reece that my impression, and I called it that, was that ancaps do not actually want to fix broken policies within a "statist" context. I gave the example of Ron Paul voting against free trade agreements with specific countries. Reece and Murphy countered with examples of papers Murphy was paid to write. He lists that as a service on his site. I said you cannot infer motives from paid work, and gave an example of code I improved.
      Murphy cannot stand dissent unless you preface it with " well you have the moral high ground but ..." I never do that. Mostly he has the low ground!

    3. Rothbardianism is founded on a flawed ethical theory, its notions of "justice" and law a travesty, and its economics is delusional.

      Your comments over there are pearls before swine, Ken B!