Comments for UMass Econ in the News http://blogs.umass.edu/econnews Thu, 09 Feb 2012 13:27:41 +0000 hourly 1 http://wordpress.org/?v=3.2.1 Comment on Boyce explains Econ4 in Valley Advocate by Dusan http://blogs.umass.edu/econnews/2011/12/22/boyce-explains-econ4-in-valley-advocate/comment-page-1/#comment-5451 Dusan Thu, 09 Feb 2012 13:27:41 +0000 http://blogs.umass.edu/econnews/?p=2801#comment-5451 I wdenor if the economics of complexity will consider the extent (wide) of influence and corruption. The idea to suppliers and customers acting in a market is nice, but it isn’t how it works. Look at the lack of competition in the pharmaceutical business (heck, the whole healthcare sector). The role lobbyists play in distorting markets?And what about market equilibrium? When I took economics from Hyman Minsky in the seventies, he was clear that all economic crisis start with one and only one thing – an abuse of credit.The market never finds an equilibrium, it expands until it collapses.So the term complexity economics sound sexy, but I’d like to know what fundamental assumptions it employs.-NRLike or Dislike: 0  0 I wdenor if the economics of complexity will consider the extent (wide) of influence and corruption. The idea to suppliers and customers acting in a market is nice, but it isn’t how it works. Look at the lack of competition in the pharmaceutical business (heck, the whole healthcare sector). The role lobbyists play in distorting markets?And what about market equilibrium? When I took economics from Hyman Minsky in the seventies, he was clear that all economic crisis start with one and only one thing – an abuse of credit.The market never finds an equilibrium, it expands until it collapses.So the term complexity economics sound sexy, but I’d like to know what fundamental assumptions it employs.-NRLike or Dislike: 0  0

]]> Comment on Wolff: Why Americans are slow to mobilize by Josue Beamesderfer http://blogs.umass.edu/econnews/2010/10/06/wolff-why-americans-are-slow-to-mobilize/comment-page-1/#comment-745 Josue Beamesderfer Thu, 05 Jan 2012 07:02:30 +0000 http://blogs.umass.edu/econnews/?p=1433#comment-745 Incredible quest there. What occurred after? Good luck! Incredible quest there. What occurred after? Good luck!

]]> Comment on Heim interviewed for TV series on capitalism by MUHASEBE REHBERI http://blogs.umass.edu/econnews/2011/12/15/heim-interviewed-for-tv-series-on-capitalism/comment-page-1/#comment-63 MUHASEBE REHBERI Sat, 24 Dec 2011 16:12:27 +0000 http://blogs.umass.edu/econnews/?p=2791#comment-63 capitalism will be good for everbody. capitalism will be good for everbody.

]]> Comment on Boyce wins Common Heritage Award by Lovis McCrady Axon http://blogs.umass.edu/econnews/2011/02/04/boyce-wins-common-heritage-award/comment-page-1/#comment-12 Lovis McCrady Axon Mon, 07 Feb 2011 22:04:30 +0000 http://blogs.umass.edu/econnews/?p=1618#comment-12 Great work Professor Boyce! Great work Professor Boyce!

]]> Comment on Economists, Ethics, and Financial Policy by Initial Thoughts on the GOP’s FCIC Dissent, “Financial Crisis Primer.” « Rortybomb http://blogs.umass.edu/econnews/2010/11/24/economists-ethics-and-financial-policy/comment-page-1/#comment-11 Initial Thoughts on the GOP’s FCIC Dissent, “Financial Crisis Primer.” « Rortybomb Wed, 15 Dec 2010 23:43:44 +0000 http://blogs.umass.edu/econnews/?p=1475#comment-11 [...] Real talk: If you want a center-right view of the financial collapse and financial reform, I’d recommend checking out the The Squam Lake Report, which has Duffie, Rajan, Cochrane and many others.  You should note that many of the authors are embedded pretty deep in the financial markets and have huge conflicts, well documented in this fascinating interview with Gerald Epstein about his paper documenting these conflicts (more on that). [...] [...] Real talk: If you want a center-right view of the financial collapse and financial reform, I’d recommend checking out the The Squam Lake Report, which has Duffie, Rajan, Cochrane and many others.  You should note that many of the authors are embedded pretty deep in the financial markets and have huge conflicts, well documented in this fascinating interview with Gerald Epstein about his paper documenting these conflicts (more on that). [...]

]]> Comment on Wolff: Why Americans are slow to mobilize by Al Healy http://blogs.umass.edu/econnews/2010/10/06/wolff-why-americans-are-slow-to-mobilize/comment-page-1/#comment-4 Al Healy Wed, 08 Dec 2010 12:08:35 +0000 http://blogs.umass.edu/econnews/?p=1433#comment-4 I hear a lot of crap from politicians about the effects of higher taxes, lower taxes and all sorts of economic plans. What I don't see are numbers I can believe. I suggest the following as a UMass Economics Dept Senior project or maybe a thesis: Model the effects of several tax structures. This would not be a Monte Carlo model but rather a game where the rules are set by the nature of the tax code and other financial realities. The students would play with in the rules with the object of making the most money. Such things as effect on the national Gini index and our ability to support the world wide activities we have. Perhaps these activities would be a parameter of the game. This idea seems so simple and useful that I am at a loss to understand why it hasn't been done before. My answer is that it probably has been done and I am not aware of the results. If you know of such results could you point me to them. About me: I write to UMass as my daughter is a dual major graduate in Physics and Math...and has a job where "want fires with that" is not part of her professional vernacular. I have a PhD in Physics and am busy starting a company with 6 of my friends. We have bookings for $2Meg over the next year + so we are about to turn the corner. I hear a lot of crap from politicians about the effects of higher taxes, lower taxes and all sorts of economic plans. What I don’t see are numbers I can believe. I suggest the following as a UMass Economics Dept Senior project or maybe a thesis:

Model the effects of several tax structures. This would not be a Monte Carlo model but rather a game where the rules are set by the nature of the tax code and other financial realities. The students would play with in the rules with the object of making the most money. Such things as effect on the national Gini index and our ability to support the world wide activities we have. Perhaps these activities would be a parameter of the game.

This idea seems so simple and useful that I am at a loss to understand why it hasn’t been done before. My answer is that it probably has been done and I am not aware of the results. If you know of such results could you point me to them.

About me:
I write to UMass as my daughter is a dual major graduate in Physics and Math…and has a job where “want fires with that” is not part of her professional vernacular. I have a PhD in Physics and am busy starting a company with 6 of my friends. We have bookings for $2Meg over the next year + so we are about to turn the corner.

]]> Comment on Katzner’s book to be published by Oxford University Press by Ian J. Seda Irizarry http://blogs.umass.edu/econnews/2010/04/06/katzners-book-to-be-published-by-oxford-university-press/comment-page-1/#comment-2 Ian J. Seda Irizarry Tue, 27 Apr 2010 03:18:50 +0000 http://blogs.umass.edu/econnews/?p=751#comment-2 Interesting that the title now says 1965-1981. I don't remember that detail in the rough draft that was circulated for comments. And I do remember topics that were relevant to years after that period. For example, the elimination of the clause that stated that a certain % of faculty had to be "radical" (i think it was 1991 when this happened). Is that still in the book? Interesting that the title now says 1965-1981. I don’t remember that detail in the rough draft that was circulated for comments. And I do remember topics that were relevant to years after that period. For example, the elimination of the clause that stated that a certain % of faculty had to be “radical” (i think it was 1991 when this happened). Is that still in the book?

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