Deirdre McCloskey challenges economists to take talk seriously. Public choice economics, like most economics, typically assigns only a small role to various forms of talk between individuals. By contrast, throughout Richard Wagner’s oeuvre, there is an undercurrent of talk about talk. This...

Regime uncertainty offers a compelling explanation for the slow recovery from the Great Recession in the United States. Market process theory provides a valuable theoretical framework for elaborating and extending the concept of uncertainty in order to generate new insights. One such insight is...