terça-feira, agosto 27, 2013

Macroeconomics is not Economics

Is Macroeconomics Really Economics? por Robert Higgs:
The world probably would have been much better off had macroeconomics never been devised ..
One of monetarism’s aspects that bothered me long before I became an Austrian (of sorts) is its oversimplification of aggregate economic activity ..
.. not only does the theory leave out critical variables, but it is too simple, being expressed in huge, all-encompassing aggregates that conceal the real economic action taking place within the economic order.

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