Welcome to Applied Macroeconomic Centre

A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Wednesday, August 24, 2011

Macroeconomics and basic common sense

Stephen Moore writes an article 'Why Americans Hate Economics?' in the Wall Street Journal on some basic issues of U.S. govt's economic policies and how those policies puzzle others. With some specific example, he seriously questioned the ability of the Keynesian economics and blamed it for lacking basic common sense! lolz...

As usual, economists like Paul Krugman, David Glasner, Noah Smith and Stephen Williamson termed Moore's article as anti-intellectual, naive conservative and confused.

No comments:

Post a Comment