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GDP Scorecards Still Misleading Government, Banks and Investors as New Survey Shows Disconnect

The GDP results for the final quarter of 2010 remain unreliable in charting recovery and progress in Europe, the USA, China, Brazil and most other countries. A new survey, BEYOND GDP, by GlobeScan and Ethical Markets (USA and Brazil) in Australia, Brazil, Canada, China, France, Germany, India, Italy, Kenya, Russia, the UK and the USA, […]

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Real Economies and the Illusions of Abstraction

The yawning gap between the real world and the discipline and profession of economics has never been wider. The ever-increasing abstractions in finance and its models based on “efficient markets” and “rational actors”: capital asset pricing, Value-at-Risk, Black-Scholes Options Pricing, have been awarded most of the Bank of Sweden prizes since they were founded in […]

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