Econlinks: The ‘Economics and Reality’ edition

  • Harald Uhlig has an interesting recent paper entitled “Economics and Reality”  (intentionally recalling Sims’s 1980 ECMA, indeed) . While he discusses the relationship between Economics and Reality (yep, isn’t that what you all hope to hear?)
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Quote for week 10th-16th Feb ’08

At the root of the difference between the Libertarian and welfarist-Utilitarian conception of optimal tax policy is the relationship of the individual to the state. The welfarist-Utilitarian model sees the state as an entity outside the individuals who compose it, in that the government puts in place policies that are optimal according to its own social welfare function.

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