Macroeconomics needs SMUT

posted by
September 20, 2011
Foundation for Economic Education
by Sandy Ikeda  
Posted in Commentary

"I would like to talk about a fundamental problem with the macroeconomic thinking of mainstream political pundits. My last column addressed a similar issue -- the importance of choosing the appropriate unit of analysis -- but there I was focusing broadly on macroeconomic theory in general. My beef here is related but narrower. It was something that occurred to me last week as I taught my introductory microeconomics students about the meaning of value in economics." (09/20/11)  

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