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This post, second in a five-part series on GEM contributions to growth theory, features Sir Arthur Lewis’s celebrated two-sector model ..read more
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  The most recurring theme of the GEM Blog has two parts. First, mainstream macroeconomics, rooted in market-centric general equilibrium ..read more
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The GEM Blog’s basic argument with mainstream macroeconomists concerns their market-centricity. The  case is multidimensional but, at ..read more
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The University of Chicago’s GenForward Project recently polled Americans aged 18 to 34 and found that 49 percent hold a favorable opinion ..read more
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In my considered opinion (with apologies to my MIT colleague Paul Samuelson), Ken Arrow (1921-2017) was the most accomplished economic ..read more
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We must not forget that, in the Great Recession, prominent central bankers rejected modern macro theory as useless. That was, of course, ..read more
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  The Bureau of Labor Statistics released its monthly Employment Situation report this morning. The report is a recurring opportunity for ..read more
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The reemergence of Ben Bernanke, Timothy Geithner, and Henry Paulson (BGP) on the policymaking scene stimulated this post. Their book, ..read more
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John Bates Clark (1847-1938) was the most distinguished American economist of his time. To me, he is especially interesting for two reasons ..read more
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Good economic theories help us understand big events as they are happening. What we most want is guidance on how they are likely to play ..read more

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