Category: Blog/Featured

The Costly Betrayal of Cost-Benefit’s Promise

Posted On By Blair Fix

Jerry Cayford Originally published here A conversation, eighty-some years ago, shaped our world today. The conversation was among three papers in economics. In 1939, Nicholas Kaldor and John Hicks published papers that steered economics through a major crisis, one that threatened its legitimacy as an advisor on public policy. With the Great Depression still raging […]

Continue Reading
Category: Featured/Publications

Fix, Nitzan & Bichler, ‘Real GDP: The Flawed Metric at the Heart of Macroeconomics’

Posted On By jmc

Abstract The study of economic growth is central to macroeconomics. More than anything else, macroeconomists are concerned with finding policies that encourage growth. And by ‘growth’, they mean the growth of real GDP. This measure has become so central to macroeconomics that few economists question its validity. Our intention here is to do just that. […]

Continue Reading