Philip Pilkington

Philip Pilkington is a Research Analyst at the investment management firm GMO. He is author of the book The Reformation in Economics: A Deconstruction and Reconstruction of Economic Theory and the blog Fixing the Economists.

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Economics Monetary Faith [long_description] The natural interest rate was the most important variable of monetary economics in the twentieth century. It has lingered in the background of economic policymaking, dictating the terms of debate for economic policy in general, and central bank policy in particular. The central banks pledge that if economists have enough faith in this unseen entity, we all will be the recipients of economic grace.
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Economics The Miracle of General Equilibrium [long_description] If general equilibrium theory does not accurately explain what happens in the real world, then what does? Philip Pilkington casts a critical eye over the foundations of mainstream economics.
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letter A Slight Alteration
In response to “The Siege of Paris”
[short_description] Noam Chomsky and Robert Berwick proposed that a slight alteration in our neural networks allowed a great change, like a push-down stack. Philip Pilkington argues that the computer analogy is imprecise.

ISSN #2576–4403