The Filter^ is going on hiatus
What better way to mark the 7th anniversary of The Filter^ than by switching it off?
Over half a million pageviews suggests that we've done something right - since January 2004 we've published well over 2,000 posts and attracted more than 3,000 comments. We've cultivated a core following of intelligent and courteous readers and all of us have enjoyed professional successes on the back of our articles here.
As regular readers will know, for the last couple of years most of the authors have moved on to other things, and since I (Anthony) have decided to take a break from blogging it makes sense to formally and officially mothball The Filter^.
Before we sign off, I want to explain the changes that have been made. The right panel offers new navigation so that you can easily browse our past articles. We've also drawn attention to our various "PROJECTS", which we've taken a great deal of pride in: we've been the media partner of an international choral tour, relaunched the careers of forgotten poets, and even live blogged a revolution. Some of us have published books and gained PhDs based on ideas we courted here.
I'll be working behind the scenes to make it even easier to wade through our past output, but for now, to all our readers - thank you.
Update: if you're curious why I'm taking a break from blogging, here's why.
Cartoon of the fortnight
Via SMBC, via Tyler Cowen.
Handbook on Contemporary Austrian Economics
I'm delighted to have received a hard copy of the "Handbook on Contemporary Austrian Economics". Here's the blurb:
This Handbook looks through the lens of the latest generation of scholars at the main propositions believed by so-called 'Austrians'. Each contributing author addresses key tenets of the school of thought, and outlines its ongoing contribution to economics and to the social sciences.
I contributed the opening chapter, titled "Only Individuals Choose".
When I first decided I wanted to pursue an academic career as an Austrian School economist, I had in mind writing this type of book. I think there is a a gap in the market for a series of relatively short articles that set the main propositions of the Austrian school within the contemporary economics and social science debate. In addition, the book demonstrates the productivty of the GMU econ program and Pete Boettke in particular. This book isn't so much edited by him, but inspired by and made possible because of him. It could be used as a text book, or as an introductory guide. It is written for academics and laymen alike. It's not cheap, but should become a cornerstone text of the second revival in Austrian economics.
The most important thing about this book is that it is written by people who for the most part weren't born during the first revival (1974). It is not an attempted ressusciation nor a history of thought. It sets out the main propositions of the *current* research agenda of the Austrian school, demonstrates and cites examples of *contemporary* work, and reflects a generation of scholars that are receiving widespread *mainstream* credibility. If Lin Ostrom winning the Nobel Prize enticed some Austrians to come out of the closet and lose a few inhibitions, so should this!
Indeed my recent talk on "Contemporary work Austrian Economics" intended to present a similar rallying cry. This is the seminal introduction to how Austrian economics is contributing to the top table of academic debate.
Britain's Trillion Pound Horror Story
As econonomic documentaries go, this was one of the best I've seen in the UK. Once people recognise that it was deliberately polemic, serving to balance out existing biases in the mainstream media (as opposed to provide a grounded, impartial account), I think it should be added as a staple of economics courses up and down the country.
In terms of improving economic literacy through the use of metaphors I think it was highly effective - even The Guardian commentator conceded that "it brought the economic theory brilliantly to life". Using a running bath to show that there's still more public debt being added than is being removed through Osbourne's "cuts" was excellent. Showing an ailing patient and trying to remove blood from one arm only to pump it into another (spilling some on the way) was useful. I even thought the lobbying children - driving home the point that the debt burden is a future taxation and therefore deeply undemocratic, was effective. And indeed exposing politicians for not knowing the difference between the budget deficit and the public debt, was hilarious (and tragic).
Of course there were problems. The interviews with Brendan Barber and Alistair Darling came across more as Ali G style stich ups than revelations. I'm not convinced that public sector spending is now larger than the private sector, and I think a fair rejoinder would be to at least acknowledge that Labour's public spending record might make the debt burdon easier to pay. Debt isn't a problem in and of itself - it depends on what you are using it to fund. If it's comsumption (as much of it undoubtedly was) then indeed you have a problem. If it's investment, then that's part and parcel of economic growth. When Durkin showed how the salaries of front line services are a small fraction of overall spending, he might have pointed out that it is because so much of Labours's spending splurge went on salaries rather than capital investment that we will struggle to pay it off.
And of course it featured Kelvin McKenzie. And for that reason alone critics have a fair criticism.
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