Macroeconomics

The Problem With Economics Is Macroeconomics

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The great Warren Brookes (1928-1991) joked in The Economy In Mind about the return of an economist from overseas, and a quip from a U.S. Passport official about perhaps not letting him back into the United States. Something about the damage done by economists. Edmund Phelps, who died two weeks ago, would have likely passed muster […]

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“Macroeconomists” Don’t Despise Trump, They Despise “Macroeconomics”

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“Macroeconomics” purpports to break “economies” down to cities, states, and countries. Remember this as economists react with horror to President Trump’s surface, or actual economic ignorance. They rightly disdain his worship of tariffs, but do so without ever bothering to contemplate their own magic, one that presumes to measure the “economies” of cities, states,

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