Grant McDermott bio photo

Grant McDermott

Assistant Professor
Dept. of Economics
University of Oregon

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There is no cake-stagnation by Tyler Cowen 

Here. Paul Krugman writes about the virtues of black forest cake versus regular vanilla sponge. While I disagree with Paul on the merits of chocolate chip distribution, I found this to be an enjoyable piece.

Caveat emptor, but do read the whole thing.

PS - Humblane S. Arcadian has written a beguiling book on the bakery practices in pre-industrial Abkhazia. Self-recommending.


Scott Sumner: I thought we had all agreed that if you have not reached your cake eating target, then by definition you are not eating enough cake.

Aziz: In the future, all cakes will be produced using solar-powered 3-D printers.

Greg Ransom: Hayek believed that prices were important because they conveyed information. Note well, cake prices are prices in inter-temporal disequilibrium. Scott writes: "by definition you are not eating enough cake".

Noahpinion. Derpity derp derp. #kthxbye

Unlearning Econ: When you get down to it, Cake Libertarianism is just Cake Marxism without the good bits.

Brad DeLong: Niall Ferguson is the stupidest man alive. Yours, Brad DeLong.

Major Freedom: OMG. LOL. Krugman is such an idiot. He doesn't understand the... [several lengthy paragraphs later] ... human-action axiom.

Lord Keynes: Major Freedom is a risible liar. These figures from Davidson et al. show that Hayek failed in his account to justify a natural cake rising rate. C.f. The arguments of Sraffa (1932).

Major Freedom: LK, why do you hate freedom?

Blue Aurora: Dear Firstname Lastname, have you read Dr Michael Emmett Brady on optimal cake consumption? PS - Did you receive my email?

Bob Murphy: Whaaaat? This is a typical Krugman Kupkake Kontradiction. Look at this recipe from Martha Stewart (link). I'm not saying that the data say I'm right. I'm saying that the data say I'm not wrong in a way that says Krugman is not totally right.

Daniel Kuehn: I'm puzzled by the reference to Wicksillian cake recipes within a Kaleckian framework. This just seems an opportune moment for navel gazing by the Kaldorian's to me.

Steve Keen: What the neoclassical cake theory fails to acknowledge is that Hicks rejected his initial recipe formulation in later life. Minsky taught us that baking is de-baking. Also, I predicted the crisis.

Grant McDermott: It's such a pity to see people neglect the in situ evaluation of cakes. Just ask yourself whether "flour" is the same thing as "a flower"? The answer, I trust, is self-evident.