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Kevin Drum has an interesting take on why macroeconomists can’t seem to agree on even the basics: Sadly, macroeconomics combines the worst aspects of just about everything. It’s wildly complex. Its fundamental precepts change over time as the basis of the economy changes. Reliable experimental evidence is practically impossible to come by. Even the effect…
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1890s Recession 1937-1938 Recession Recovery
Kevin Drum has an interesting take on why macroeconomists can’t seem to agree on even the basics: Sadly, macroeconomics combines the worst aspects of just about everything. It’s wildly complex. Its fundamental precepts change over time as the basis of the economy changes. Reliable experimental evidence is practically impossible to come by. Even the effect […]