Thomas Kuhn tells us what we need to know about climate science

Summary: The history of science provides a vital perspective for anyone watching our time's high stakes climate science debate. Look at Twitter and you will see the theories of the great Thomas Kuhn at work, helping us better understand the public policy debate.  {1st of 2 posts today.} “First they ignore you. Then they ridicule … Continue reading Thomas Kuhn tells us what we need to know about climate science

In the center ring: scientists debate the process of climate science

Summary:  Here's one of the best conversations I've seen about the state and process of climate science (not the technical details for professionals). If he were alive, Thomas Kuhn would smile at this evidence that his theory so well describes the workings of science -- on which we rely for prosperity and perhaps survival.  The … Continue reading In the center ring: scientists debate the process of climate science

The greatness of John Maynard Keynes, our only guide in this crisis

Judging from the comments on the FM site, most readers should carefully review these articles.  I believe this crisis results from a paradigm crisis in Keynesian economics, as we reach the boundaries of his vision -- specifically, the point at which aggregate private sector debt becomes a limiting factor for the economy's growth.  But however … Continue reading The greatness of John Maynard Keynes, our only guide in this crisis

Causes of the financial crisis (no, its not the usual list)

Summary:  Much of the analysis of this great crisis -- now clearly the worst since the 1930's -- focuses on minute, even trivial, aspects of the problem.  This is natural, as its sweep and magnitude dwarf anything seen during our lifetimes (for most of us, at least).  It has affected almost every business, kind of investment, … Continue reading Causes of the financial crisis (no, its not the usual list)

Debt – the core problem of this financial crisis, which also explains how we got in this mess

Summary:  we have a bad case of debt deflation.  Although well-described by economists since the 1930's, this malady was not taken seriously by the mainstream of the profession.  Now we have it.  This post describes this macroeconomic illness (which will help you better understand events), and possible cures.  The diagnosis is simple; the cures less so. … Continue reading Debt – the core problem of this financial crisis, which also explains how we got in this mess