The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true.

The model of competitive equilibrium which has been discussed so far is set in a timeless environment. People and companies all operate in a world in which there is no future and hence no uncertainty.

The behavior of the economy as a whole, at the aggregate, macro-level, is built up from the individual equations at the micro-level.

I am often asked by would-be entrepreneurs seeking escape from life within huge corporate structures, ‘How do I build a small firm for myself?’ The answer seems obvious: Buy a very large one and just wait.

By any reasonable criteria, the discipline of economics as a whole, in its present state, is sadly lacking.

Despite the high salaries involved, employing economists is a cost-effective way for banks, and stockbrokers to secure exposure in the media.

The reader might reflect that an awful lot of supposing has to take place in order for the quantity theory of money to be true.