Busy, Busy, Busy!

On top of taking Public Policy and Adminstration, Logic, microeconomics, comparative politics, and a couple other classes at the university, I am going to start reading two books that I have been dying to read: The General Theory of Employment, Interest and Money by Keynes (duh!) and The Constitution of Liberty by Hayek.

The reason why I want to read The General Theory is that of understanding. Although I generally get why Post Keynesians (PKs) dismiss the orthodox Keynesians’ interpretation of the book (The message that PKs get from the book is that of effective demand, liquidity preferences, and uncertainty), I want to see how I interpret it myself (although I am more than likely going to take the PKs side on this). Also, I think one cannot call themselves a serious economist without reading this book.

After listening and reading reviews on The Constitution of Liberty in the Austrian circles I attend, people either love it or hate it. Ludwig von Mises liked the book, considering it a great book on classical liberalism and Murray Rothbard harshly critiqued the book, calling it an extremely bad and evil book! While he later took a more moderate stance on the book, I really think most Rothbardians see this book as a bad and evil book. I will probably side with Mises on this one after reading Hayek’s book but we will see.

And lastly, even though graduate school isn’t for a couple more years, I am debating about what school I want to attend for graduate school. Staying here in New Mexico is the ‘safest’ option, for I talk to the economics staff all the time but I feel like a lone wolf here. With all due respect, these guys are teaching the mainstream ideas and most completely assume away uncertainty, the market process, and the flaw of equilibrium analysis. I really want to go to a school that emphasizes, or at least realizes the importance, of these aspects. The schools that I see meets these requirements are:

1) George Mason University

2) Auburn University

3) University of Georgia

4) University of Missouri – Kansas City

All these schools have awesome intellectuals that I would not mind studying under. The professor at GMU that stands out for me is Karen Vaughn, at Auburn it is Roger Garrison, at UGA it is George Selgin, and at UMKC Randall Wray. I am influenced by all four of these people in one way or another and I really do think that they all think ‘outside the box’ as opposed to most college professors. Decisions, decisions…

Isaac Marmolejo


5 responses to “Busy, Busy, Busy!

  1. I might be showing my bias but it seems to me the GMU is, to put it bluntly, more of an anti-government propaganda machine than a reliable source of economic analysis.

    Of course, this could just be based on a slightly ignorant ‘pop perception’ of its economics. IDK.

    • I could see your point, but i dont think all the staff is anti-government, just its most ‘popular’ professors are. Surely, people that I am most influenced by that work at GMU are not anti-government, Vaughn surely isn’t.

      But I do think at the end of the day, if I switch schools, it would be a choice between UMKC or GMU. They both have their advantages and disadvantages in my opinion.

    • It is a huge contrast, I am a classical liberal, so I do feel kind of weird going to UMKC. At the same time, I do not think that is necessarily a thing that I should be ‘weird’ about. Hyman Minsky and Paul Sweezy both studied under Schumpeter, and while they totally disagreed with Schumpeter on economic policies, they admired him on how he thought of economic theory. I think I would be in a similar position if I go to UMKC.

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