Piketty and His Critics Chapter 2 and Let’s Keep FDL Up

By: Wednesday May 28, 2014 9:00 am

I hope people can drop a few coins in the collection plate when it comes by. The homily today addresses the mental universe of another servant of the filthy rich.


The Real Rogoff-Reinhart Problem Was Not the Mistakes, It Was the Lack of Basic Transparency

By: Monday May 6, 2013 9:45 am

Larry Summers has decided to rush into the fray to defend his “colleagues and friends” Carmen Reinhart and Ken Rogoff. Unfortunately, the only way for Summers to defend his friends is by trying to rewrite history. Summer tried to pretend the problem was simply a matter of making some errors.

Congressional Democrats Pushing Back Against Obama’s Austerity Budget

By: Tuesday April 30, 2013 6:40 am

As the latest reports indicate that the U.S. economy is slowing down and the intellectual foundation for austerity economics has been discredited, Congressional Democrats are pushing back against President Obama’s austerity budget. Democrats in the Senate and even more in the House no longer see the logic in austerity cuts to social programs such as Social Security and Medicare given that the evidence contradicts the intellectual rationale for them.

Reply to Reinhart and Rogoff’s NYT Response to Critics

By: Sunday April 28, 2013 7:00 am

The intellectual dishonesty continues. As before, it’s the lie of omission.
R and R are familiar with my book ‘The 7 Deadly Innocent Frauds of Economic Policy’ and, when pressed, agree with the dynamics.

Fallout Continues From Discovery of Major Flaws in Key Austerity Paper

By: Friday April 26, 2013 11:15 am

Academia remains incredulous as evidence accumulates that the Reinhart-Rogoff paper that underwrote much of the intellectual justification for austerity economics omitted important data and contained severe Excel errors. Some are calling it a technical knockout of austerity economics, handing victory to the anti-austerity faction of economists.

Austerity Economics Takes a Major Blow as Key Research Paper Discredited

By: Friday April 19, 2013 8:18 am

A paper by Kenneth Rogoff and Carmen Reinhart entitled Growth In A Time Of Debt became the intellectual backbone for the austerity movement/plutocrats and their apparatchiks in Washington and elsewhere. Now a graduate student has discovered a major excel error in Rogoff and Reinhart’s research which skewed the data to support their thesis and found that when that error was corrected their data actually supported the contrary view.

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