“Lonergan’s ‘Circulation Analysis’: A Discussion” is a typescript from a tape made at the Thomas More Institute, Montreal, November 4, 1979. Taking part in the discussion were Eric O’Connor, Michael Gibbons, Philip McShane, and Eileen de Neeve. Nicholas Graham made the transcription. Click, on the underlined title within this very paragraph.
Philip McShane above
In his blog entitled “Picketty in Brief,” dated Sunday, July 24, 2022, N. Gregory Mankiw asks what might be Thomas Picketty’s present thinking about inequality. Has it changed? If so, how and why? Also see on this website “Picketty’s Plight.” in which we quote Philip McShane’s claim that, unless one has a normative explanatory theory yielding precepts as to how enlightened participants in the economic process should adapt and conduct themselves, one can only helplessly and hopelessly suggest harmful bureaucratic centralist solutions – such as disequilibrating taxation and intrinsically–inflationary deficit spending. Continue reading
.1. Concomitance and Correlation in Macroeconomic Field theory
Concomitance is, I would claim, the key word in Lonergan’s economic thinking. [Philip McShane, [Fusion 1, page 4 ftnt 10]
All science begins from particular correlations, but the key discovery is the interdependence of the whole.…its basic terms are defined by their functional relations. [CWL 15, 53, 54, and 177]