One more example of the sorry state of macroeconomics. What are these formerly respectable economists thinking? In economic terms, I wasn't brought up as a monetarist, but I could recognize that there were times when that model fit the economy best (as did Keynes, as shown in his writings prior to the GT). Now some old-line monetarists seem to have forgotten all they know (or are determined to ignore it). Is this an example of the economics profession's version of just opposing everything done by those in a position to do something?
Paul Kasriel on Alan Meltzer and QE2.
No comments:
Post a Comment