Can economics afford not to become natural science?

Can South Africa Afford to Become Africas First Welfare State?

This paper assesses the economy-wide impact of implementing and financing a universal or basic income grant (BIG) in South Africa. The various financing scenarios suggested by the proponents of the grant are presented, and these are compared using an applied general equilibrium model for the South African economy. The results indicate that the required changes in direct and indirect tax rates n...

Is economics an empirical science? If not, can it become one?

Today’s mainstream economics, embodied in Dynamic Stochastic General Equilibrium (DSGE) models, cannot be considered an empirical science in the modern sense of the term: it is not based on empirical data, is not descriptive of the real-world economy, and has little forecasting power. In this paper, I begin with a review of the weaknesses of neoclassical economic theory and argue for a truly sc...

Providing outpatient prescription drugs through Medicare: can we afford to? Can we afford not to?

Can Small Colleges Afford To Be Technology Leaders? Can They Afford Not To Be?

Small colleges, troubled by demands on financial aid, constrained by external pressures to limit the growth of tuition and fees, and driven by increased competition for students, appear poorly positioned to be technology leaders. However, in these difficult times they have opportunities to distinguish themselves through focused applications of information technology resources in support of thei...

Will Economics Become an Experimental Science?