PSST vs. the First Law of Wing-Walking

posted by
November 14, 2011
EconLog
by Bryan Caplan  
Posted in Commentary

"For the last couple of years, Arnold [Kling] has been energetically promoting a macroeconomic alternative to the standard AS-AD model. He calls it PSST -- 'patterns of sustainable specialization and trade' .... My main problem with PSST: Despite Arnold's incredulity, he still needs nominal wage rigidity to make his story work." (11/14/11)

http://econlog.econlib.org/archives/2011/11/psst_with_flexi.html  

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