Often when I have pushed economists about how unrealistic their perfect market assumptions are, they have pushed back with the claim that free market equilibrium […]

Last week, I ended by talking about production costs and how they undermine the neoclassical idea of the supply curve. The supply curve relates the […]

Last week, we saw that microeconomics textbooks teach backwards, starting with demand rather than supply. This week, we explore another example of backwards logic: how […]

This week, I continue my series on the problems on contemporary economics, particularly the standard textbook version now taught to millions of economics students worldwide. […]

One reason I call myself a political economist, rather than simply an economist, is that I know what economists deny: that all prices are political. […]

Since economics was created during the 1870s as an offshoot of political economy, it has rested on a handful of bedrock propositions that unassailably define […]

My son, who is a high school senior, is currently taking Advanced Placement (AP) economics. His textbook reminds me of all that is wrong with […]

Last week, I wrote about the Sanders campaign and its theme of growing inequality. The same evening that blog went live I attended a private […]