Top Economics universities European

I raise this question having spent last weekend in Toronto at the annual conference of the Institute for New Economic Thinking, a foundation created in 2009 in response to the failure of modern economics in the global financial crisis (whose board I currently chair). Unfortunately, the question raised above is as troubling today as it was in November 2008, when Britain’s Queen Elizabeth famously stunned the head of the London School of Economics by asking faux naively, “But why did nobody foresee this [economic collapse]?”

As John Maynard Keynes observed in 1936, when he challenged the economic orthodoxies that were aggravating the Great Depression: “The ideas of economists, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist.”

This remark is as relevant today as in 1936. Joseph E. Stiglitz, the Nobel laureate, asked rhetorically in Toronto: “Why are central banks and governments still trying to predict the effects of their policies with an economic model that is manifestly absurd?”

His answer was that the economic models studied in universities and published in leading academic journals are still largely based on a simplifying concept, known as the Representative Agent, which effectively assumes that “everyone in the economy is the same.” So these models have nothing to say about lending or borrowing, ignore the existence of banks and treat bankruptcies as unimportant because “when the borrower does not repay, he only defaults on himself.”

Amazingly, these economic models with no banks are still the main analytical tool used by most central banks. Peeling away further layers of the theoretical onion reveals something even more bizarre: an inbuilt assumption that the economy is self-stabilizing. This means that virtually any policies the central bank may choose to follow will lead automatically to full employment — in the forecasts, if not in the real world.


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Hypermesis gravita for one, especially here in

2010-04-06 09:22:57 by spiffynikki1

The US. European practices are a bit more varied. I have heard of moms with a MM card continuing low usage for anxiety or pain during pregnancy as well. No european studies have shown a link between birth defects and pot use. So far the only thing they have in common appears to be a possible higher rate of behavioral problems later in life.
I don't read US studies anymore because they are incredibly biased. To get a study in the US you must apply and you can only use pot grown in one lab with the government permit, and that pot is of questionable quality.

Arguments against same sex marriage

2009-04-07 10:23:54 by --

1. Divorce risks are higher in same-sex marriages than in opposite-sex marriages, and that unions of lesbians are considerably less stable, or more dynamic, than unions of gay men, based on European studies. Divorce is well-known to be bad for children.
2. Same-sex marriage separates the ideas of marriage and parenthood, thereby accelerating marital decline.
3. Legalizing same-sex marriage will create legal principles under which sexual orientation will be treated as an immutable characteristic like race. Same-sex marriage advocates seek to use the law to stigmatize, marginalize, and repress those who disagree with the government’s new views on marriage and sexual orientation

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We know that Europe's top universities rely on its financing, and it's our goal to get many more companies participating in the programme. So the steps we are taking will have a very real effect on the women and men who participate in the projects.

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