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"This is Part 3 (and final) of my series responding to an iNET claim that Modern Monetary Theory (MMT) and mainstream macroeconomics were essentially at one in the way they understand the economy but differ on matters of which policy instrument (fiscal or monetary) to assign to counter stabilisation duties. In Part 1, I demonstrated how the core mainstream macroeconomic concepts bear no correspondence with the core MMT concepts, so it was surprising that someone would try to run an argument that the practical differences were really about policy assignment. In Part 2, we saw how the iNET authors created a stylised version of mainstream macroeconomics that ignored the fundamental building blocks (how they reach their conclusions about the real world), which means that they ignore important differences in the way MMT economists and mainstream macroeconomists interpret a given economic state. I will elaborate on that in this final part. Further, by reducing the body of work now known as MMT to be just 'functional finance', the iNET authors also, effectively, abandon any valid comparison between MMT and the mainstream, although they do not acknowledge that sleight of hand. The series so far is: 1. The divide between mainstream macro and MMT is irreconcilable - Part 1 2. The divide between mainstream macro and MMT is irreconcilable - Part 2"

"My colleague Jamie Robins and I are working on a book that provides a cohesive presentation of concepts of, and methods for, causal inference. Much of this material is currently scattered across journals in several disciplines or confined to technical articles. We expect that the book will be of interest to anyone interested in causal inference, e.g., epidemiologists, statisticians, psychologists, economists, sociologists, political scientists, computer scientists… The book is divided in 3 parts of increasing difficulty: causal inference without models, causal inference with models, and causal inference from complex longitudinal data. We are making drafts of selected book sections available on this website. The idea is that interested readers can submit suggestions or criticisms before the book is published. To share any comments, please email me or visit @causalinference on Facebook. To cite the book, please use "Hernán MA, Robins JM (2018). Causal Inference. Boca Raton: Chapman & Hall/CRC, forthcoming.""

"Joseph Nye's concept lost relevance, but China could bring it back"

"Everyone knows these statements aren't literally true, but although we might understand their figurative meaning, they continue to reflect, and influence, how we think. Even biologists, being quite human, too often think metaphorically and assign properties to genes that genes don't have. The metaphor works because our society has a deeply embedded belief in genes as clearly identifiable material things which explain our individual natures, making them inherent from the moment of our conception and thus predictable. If hydrogen and oxygen are the causal atoms of water, genes are the causal atoms of our existence."