I recently ruined an economist’s morning lie-in, and for that much I am sorry. Over at aidthoughts.org, Matt Collin read my blogpost on vandalizing economics textbooks and he got very annoyed. Why? Because I shared the view of many leading economic thinkers and critiqued this diagram, central to macroeconomics, for ignoring the environment, the unpaid … Read more
Get ready to join the world’s first guerrilla campaign to rewrite economics. The only weapon you need is a pencil…here’s why. When I studied economics at university twenty years ago, the concept of The Circular Flow of Money and Goods was the gateway to understanding macroeconomics – and it still is. It shows how households … Read more
Everyone agrees: we have to get beyond GDP. Yes, yes, but enough talk – let’s get this train moving. Some say we should forget GDP and jump straight to measuring well-being. I agree well-being measures are needed, but the economic description of the world is never going to go away, so rather than push it … Read more