Posted in Economics on June 10th, 2012 No Comments »
A good theory has two characteristics: internal consistency and external consistency. An internally consistent theory is one that is parsimonious; it invokes no ad hoc or peculiar axioms. An externally consistent theory is one that fits the facts; it makes empirically refutable predictions that are not refuted. All scientists, including economists, strive for theories that [...]
Posted in Economics, Politics & government on November 29th, 2008 No Comments »
In response to Krugman calling those which advised the Bush administration as hacks and those appointed to fill up the vacancies in the Obama administration as grown-ups… Seriously, isn’t it amazing just how impressive the people being named to key positions in the Obama administration seem? Bye-bye hacks and cronies, hello people who actually know [...]
Posted in Politics & government on November 6th, 2008 10 Comments »
I typical share via Google Reader these days but I thought, this post from Greg Mankiw deserves extra attention basically because I agree with it. He theorizes that the youth moved away from the Republican Party because of social conservatism. I expressed the same concerned earlier. …It was largely noneconomic issues. These particular students told [...]
The name is Hafiz Noor Shams.
For more about me, please go here.