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First of all, it's "Lucas," not Lucas.  Second of all, he hasn't been anything resembling "mainstream" for a long-ass time.  Shit, Lucas has become a laughing stock by the time I was an undergrad -- and at a university notoriously infused with Koch money at that.

Greg Mankiw is a half-decent mathematician masquerading as a serious economist.

Once again, "mainstream" isn't whatever gibberish you read on some idiot blog.  If you want mainstream, read Krugman and you "heterodox" friend, Stiglitz.  Both of whom are more representative of the mainstream that these people you keep bringing up.

Stiglitz's consumption function was the foundation for both his and Krugman's Nobels.  Solow's growth model is literally the first model they teach you in every Macro 201 class.  We in "not even wrong" territory here.

As for the Hillary/Bill/conspiracy theory on the DNC and Bernie bit -- now you want her to listen to Bill, the Unholy God of "Neoliberalism".  Helpfully demonstrating what a bunch of horseshit the whole conflict was the whole time.

Complete gibberish.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Feb 14th, 2017 at 02:51:56 AM EST
[ Parent ]
...adding:

God damn, that comment from me was like an Autocorrect Holocaust.  Sorry.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Tue Feb 14th, 2017 at 02:55:33 AM EST
[ Parent ]
You needed this control shot...

Nothing about a consumption function on the Wikipedia page on Stiglitz.

What is taught in freshman courses is not necessarily mainstream in policy building. Economics is a motley subject, with a lot of speculative assumptions, ideological deductions, hand waving with graphs and some serious math, mechanism design. The same economist can easily produce something standard for a freshman course and a theory against prevailing operative streams.

by das monde on Tue Feb 14th, 2017 at 04:58:58 AM EST
[ Parent ]

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