Signs and Miracles

Behavior and Miracles

Neoclassical Miracles

We study the dynamic behavior of a Neoclassical growth model with finite lifetimes and imperfect altruism in which individuals can accumulate both physical and human capital. We use the model to better understand and explain the behavior of economic miracles. Our results suggest that standard Neoclassical forces can account for the performance of the miracle economies and can explain the protra...

Miracles: metaphysics, physics, and physicalism

Debates about the metaphysical compatibility between miracles and natural laws often appear to prejudge the issue by either adopting or rejecting a strong physicalist thesis (the idea that the physical is all that exists). The operative component of physicalism is a causal closure principle: that every caused event is a physically caused event. If physicalism and this strong causal closure prin...

The Miracles of Globalization

By the early 1980s, a number of distinguished economists had amassed compelling evidence that outward-oriented trade policies were far more likely than protectionism to lead to economic growth. The evidence was contained in two multi-country research projects-one at the Organization for Economic Cooperation and Development (OECD), led by Ian Little and others, and the other at the National Bure...

The medical miracles delusion.

Humans are not ants, but we often trudge together along the same trail, neglecting to look around for alternatives. Mass delusions involve large groups holding false or exaggerated beliefs for sustained periods. Humanity has a long, sorry list of these shadow-the-leader epidemics of collective consciousness which appear obviously wrong only in hindsight. Some last for centuries: early alchemist...