Does Identity Economics Predict Happiness in Different Societies?

I get the impression from the methodology chapter of their recent book, ‘Identity Economics’, that George Akerlof and Rachel Kranton are not particularly interested in econometric tests of the predictive power of their theory. They suggest that it is difficult to falsify any theory because ‘even the most straight forward test has literally millions . . . → Read More: Does Identity Economics Predict Happiness in Different Societies?

Economic Events on May 27, 2010

At 8:30 AM EDT, the U.S. government will release its weekly Jobless Claims report.  The consensus is that there were 450,000 new jobless claims last week, which would be slightly less than the higher than expected number that was reported last week.

Also at 8:30 AM EDT, the preliminary GDP report for the first . . . → Read More: Economic Events on May 27, 2010