Friedman's 1956 essay, 'The Quantity Theory of Money: A Restatement', in his Studies in the Quantity Theory of Money should be read in the context of the prevailing Keynesian consensus of the time. His primary task had to be to convince economists to reconsider this theory. This required an...

One way of inducing economists to pay more attention to methodology is for methodologists to take up problems that practicing economists will see as relevant to their work and discuss them in a non-technical manner. The paper provides some examples of how methodologists could aid practicing...

Stephen Ziliak and D. N. McCloskey have sharply criticized the prevailing use of significance tests. Their work has, in turn, come under vigorous attack. The vehemence of the debate may induce readers to wrongly dismiss it as a “he said-she said” debate, or else to take sides in an unbending...

Deirdre McCloskey and Stephen Ziliak have graciously replied to my essay titled “Ziliak and McCloskey on Statistical Significance: An Assessment.” Only a few of McCloskey and Ziliak’s extensive criticisms are valid or partially valid, and these relate to points that can readily be dropped...

In der ersten Veranstaltung der "Gesprächsreihe zu Strukturreformen im europäischen Bankensektor" diskutierten Professor Dr. Jan Krahnen und Dr. Thomas Mayer den im Liikanen-Bericht enthaltenen Vorschlag zur Managervergütung im Bankensektor. Der Vorschlag baut auf einem der Kernvorschläge...

This collection of eminent contributions discusses the ideas and works of Mark Blaug, who has made important and often pioneering contributions to economic history, economic methodology, the economics of education, development economics, cultural economics, economic theory and the history of...

From the perspective of the Austrian economic school, economic policy is presently following the wrong recipes for resolving the financial crisis. In his Hayek-lecture 2012, Thomas Mayer explains how the insights of the Austrian school into the link between the real economy and the financial...