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The case is against empathy as the sole explanation for morality, although it does figure prominently in a comprehensive moral theory.The New YorkerThe Baby In The Well: The case against empathyPaul Bloom(h/t Lambert Strether at Naked Capitalism)See also Book Talk: Of apes and atheists - is empathy evolution? by Ed Stoddard at Reuters. […]

Where I disagree with Krugman in his blog today is his references to the economics profession.In his discussion this morning he is critical of a defense of the hedge fund managers made by Jesse Eisinger. That defense rests on the notion that economists have no clue about the economy as demonstrated by their inability to predict the bubble and subsequent coll […]

Economonitor — Great Leap ForwardRatings Agencies Still Clueless, Threaten To Downgrade Uncle SamNovember 8, 2012L. Randall Wray |Professor of Economics, UMKC(h/t y in the comments)Here's the derivation.Good to remind ourselves of this periodically. […]

Interesting daily news channel from Suspicious Observers that I've been trying to get in the habit of checking  out several times a week.Good review of daily major tectonic, atmospheric, and solar system events condensed into a short video format."Economics" or "house law" should be tuned into the operation of these types of natural […]

Lessons to be gleaned from the Rogoff & Reinhart debacle if economic analysis is to continue to be taken seriously.Project SyndicateOpen-Access EconomicsBarry Eichengreen | Professor of Economics and Political Science at the University of California, Berkeley, and a former senior policy adviser at the International Monetary Fund […]

MMT proponent priceman calls out ignorance and anti-intellectualism on the left.Daily Kos — Money and Public PurposeTo Those Celebrating Their Proud Ignorance of the President's Austeritypriceman for The Amateur Left […]

But the trickle could soon turn into a flood. The speculators of the world have been told by the new head of the BOJ, Haruhiko Kuroda, that they can now speculate with borrowed yen which has not only no cost but no currency risk. The borrowings, then, could be infinite. The foreigners increased their holdings of Japanese Government Bonds from four percent to […]