Bernard Lonergan’s Goal: Generalization and Practical Precepts for Free People
Explanation By Gross Domestic Functional Flows To Supplement Description by Gross Domestic Product
The Ineptitudes in Central Bank Operations
Field Theory in Physics and Macroeconomics
Lonergan’s Macroeconomic Field Theory”()MFT), AKA “Functional Macroeconomic Dynamics” (FMD”
Commonsense Economics vs. Scientific Economics
The Principle of Concomitance: The Foundation of Equilibrium, Continuity, and Explanatory Theory
Elizabeth Warren’s Advice to Jerome Powell; Sentiment Without Intelligence
Why Most Macroeconomists Haven’t Yet Flocked to Functional Macroeconomic Dynamics
Is Functional Macroeconomic Dynamics Easy or Difficult?
The “Truth” or “Verification” of Macroeconomic Field Theory
Why and How the Basic Expansion Fails to be Implemented
Introduction To Treatments of Modern Monetary Theory
Modern Monetary Theory is Backward; It Creates “illegal” Superposed Circuits
So-Called Modern Monetary Theory does not Qualify as Scientific Macroeconomics
FMD’s Take on Greg Mankiw’s Take on Modern Monetary Theory
Alberto Bisin Re Modern Monetary Theory
Conflicting Ways of Viewing the Economic Process
The Animal Organism and the Economic Organism
Lessons From I. Bernard Cohen’s “Revolution In Science”
Frank Wilczek’s “We’re All Still Living in Euclid’s World”
*Revision of the NIPA into Explanatory Form
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- Introductory (NIPA)
- Invitation
- Sources
- Why Revise the National Income and Product Accounts: Scientific Explanation and Purposeful Application
- Gross Domestic Functional Flows: GDFF = P’Q’ + Π”Κ”; Revision and Technicalities
- The Basic Price-Spread Ratio and the Pure Surplus-Income Ratio
- Appendix to Revisions
*Notes Regarding FRB Monetary Policy and a Theoretic of Credit
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- Preliminary Guidance
- The Broad Context of Interest Rates
- Credit Money and its Circulation; the Return OF Investment
- Interest Payments and Their Circulation
- Equations for Expansion
- The Formal Cause
- Circulating Principal as Intrinsic to the Process
- Price Changes: Real and Relative vs.Monetary and Absolute
- Circular Return: Intrinsic, Inevitable, and Good
- The General Governs the Particular Generally
- Interest Rate Changes Are Double-Edged; Manipulation is Inept
- General and Concluding Remarks
- Burley’s Evolutionary Model
*Money: Notes on the Nature and Purpose of Money
Paul Romer’s “Endogenous Technological Change” in Bernard Lonergan’s Framework
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- Preview
- Introduction, Diagrams, and Framework
- “Sectors”, Circuits, Explanatory Conjugates, Multiplier, and Lagged Temporality
- Romer’s Assumptions and Their Implications
- Outline of Romer’s Serial Reasoning
- Equilibrium in Endogenous Technological Change
- Insight as the Key Constituent of R&D, Macroeconomics and Science Generally
- Purpose and Scope
- Lonergan’s Purely Relational and Purely Functional Frame of Reference
- Classification of Research and Development
- Notes After Reading Lonergan’s A Note on Geometric Possibility
- The Historical Context of Raul Romer’s Endogenous Technological Change
- Assessment
- Final Note
- Recommended Supplementary Reading
So-Called Modern Monetary Theory does not Qualify as Scientific Macroeconomics
FMD’s Take on Greg Mankiw’s Take on Modern Monetary Theory
Modern Monetary Theory is Backward; It Creates “Illegal” Superposed Circuits
Facing Facts: The Ideal Of Constant Value Of The Currency vs. The Fact Of Inflation
A Tale Of Two Faulty Circulations
Lessons From I. Bernard Cohen’s “Revolution In Science”
Alan S. Blinder, Wall Street Journal, Wednesday, December 29, 2021
Bloomberg TV and Intelligence Squared’s “That’s Debatable” — “Stop Worrying About National Deficits“
Bernard Lonergan, Marx, and Liberty
An Outline Of General Values And Money’s Values
Seminar on “Critical Thinking in Economics“
Elizabeth Warren’s Advice to Jerome Powell
A Discussion About My Favorite Textbooks
Functions Are Not Seen, But Must Be Understood
Lilley and Rogoff Recommending Negative Interest Rates
Lonergan’s Laws of Economic Motion
Theoretical Breakthroughs of Euclid, Newton, Hilbert, Einstein, and Lonergan
Two Summaries in Functional Macroeconomic Dynamics
A Contrast: Understanding Pricing in Macrostatic DSGE and in Macrodynamic FMD
Paul Krugman: Depression Economics
Explanatory Macroeconomic Dynamics; Relevant In Any Instance
The Relativistic Invariant; The Ideal Pure Cycle at the Root of the Aberrant Trade Cycle
A McShane Sampler Relevant to Functional Macroeconomic Dynamics
Primary Relativities in the Diagram of Rates of Flow
The IS-LM, AD-AS, and Phillips Curve Models
Functions, Velocities, and the Achievement of Scientific Economics
Lonergan stands alone. No one else systematizes the explanatory functional distinctions.
Why Analyze the Rhythmic Pattern of the Productive Process First?
An Adequate Level of Abstraction and Generalization; A Deeper Explanatory Unity
Prediction is impossible in the general case
The Significance of Burley’s and Csapo’s Characteristic Equation and Its Root Solution
Previous “Single Paragraph for Consideration Today” or “Brief Items”
Textbook Flaws and Deficiencies
Insight Into The “Baseball Diamond”: Discovery For Implementation
Pure Surplus Income; Capital Expansion’s Monetary Correlate
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- Introductory and Context
- Features of the Production and Use of Capital
- The Concept of Pure Surplus Income
- The Genesis of Pure Surplus Income
- The Functionality of Pure Surplus Income
- Implicit Definition of Pure Surplus Income
- Functional Macroeconomic Dynamics is a New Science of a National Income Accounting
- Re Corporate Accounting
- Pure Surplus Income’s Norms in the Pure Cycle; Aberrations Called Booms and Slumps
- Appendix: Lonergan’s Earlier Treatment of Pure Surplus Income
- The Einsteinian Context
Why Study Peter Burley’s Models?
Principles and Pointers; An Invitation to Minds
Imaginary Letter from an Imaginary Billionaire
Practical Precepts for Free People – Consumers, Entrepreneurs, Bankers
Why and How the Basic Expansion Fails to be Implemented
Sublation and Subsumption; Keynes, Kalecki, Solow