"Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst"
"The big lesson from past bubbles is that recovery is export-led, which is not helpful unless we can find another planet to export to”
Well, we may not have a planet to export to but at least the economic theory for it is ready.
The quotes are from this article.
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2 comments:
I like the end of the abstract " two useless but true theorems are proved"
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