Akerlof vs. Sargent

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

I'm trying to get caught up with the unread journals piling up on my couch.  Last
night I rummage through the May issue the American Economic Review with the papers
from the most recent conference, organized by Thomas Sargent.  With the glaring
exception of a paper by James Heckman on education, I found very little of interest.
Usually, the papers and proceedings have at least a few good sessions.

Today I picked up the March issue with a address by the past president, George
Akerlof.  What a stunning contrast!  Akerlof trounces the abstract nonsense that
passes for economic theory today.  He rummages other social sciences order to inject
some realism back into economics.

I understand my own sense of isolation within the discipline; I wonder how George
must feel.

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu
michaelperelman.wordpress.com