Newspaper macroeconomics

posted by
October 24, 2011
by Arnold Kling  
Posted in Commentary

"I am not a fan of textbook macroeconomics. But it is a marvel of logical consistency when compared with the macroeconomics that you get from journalists. From the perspective of a macroeconomic textbook, journalists write as if the aggregate supply curve is nearly vertical with respect to monetary policy and nearly horizontal for fiscal policy." (10/23/11)  

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