�㽶��Ƶ News - Asia Times

Why ‘behavioral economics’ is neither ‘behavioral,’ nor ‘economics’

webfull — Fri, 18 Dec 2015 16:26:08 +0000

Written by Reuven Brenner

Over the years, some economists carried out laboratory experiments and argued that people are inconsistent in ways they assess risks and probabilities. They concluded that it is misleading to rely on other economists’ view of risk, and that economics cannot be separated from psychology. This field of study is known today as “behavioral economics” (Kahneman and Tversky its founders), which, as briefly shown here, is neither “behavioral,” nor “economics,” nor makes sense.

Published: 18 December 2015

Canadian elections: Why did inexperience triumph?

webfull — Fri, 30 Oct 2015 15:33:02 +0000

Article written by Professor Reuven Brenner

As in the United States, Canadians voted for “Hope and Change” on Oct. 19, 2015.

These are exactly the words Justin Trudeau, the 43-years old elected head of the Liberal party, repeatedly used in his victory speech in both English and French. I could not avoid wondering if Mr. Trudeau’s team used the same public relations firm that Mr. Obama used in his first campaign, or if he just borrowed the slogans.

Published: 30 October 2015

How many immigrants can Europe accommodate?

webfull — Fri, 25 Sep 2015 22:13:45 +0000

Written by Reuven Brenner

Europe is now facing a prospect similar to what the US has been facing for decades: the march of millions upon its borders. But whereas the US got millions of immigrants fleeing Mexico for a better life, the potential millions moving on Europe come from failing states from around the world: Syria, Iraq, Afghanistan, Libya – and through the latter, from Nigeria, Eritrea and other.

Published: 25 September 2015

The boom-and-bust Fed's rental society

webfull — Sat, 18 Oct 2014 15:54:05 +0000

Article By Reuven Brenner

Now, as during World War II and up to 1951, the US Federal Reserve practiced what is now called quantitative easing (QE). Then, as now, nominal interest rates were low and the real ones negative: The Fed’s policy did not so much induce investments as it allowed the government to accumulate debts, and prevent default.

... Reuven Brenner holds the Repap Chair at �㽶��Ƶ’s Desautels Faculty of Management. The article draws on his Force of Finance (2002).

Published: 18 October 2014

The boom-and-bust Fed's rental society

webfull — Fri, 17 Oct 2014 19:32:08 +0000

Published: 17 October 2014