Worthwhile Canadian Initiative notes that sometimes, a reported slower GDP growth rate is actually better news than another slightly higher reported rate. As I've noted repeatedly on this blog and in class, it's important to look at the numbers behind the numbers. When 5.0% GDP growth is better news than 5.9% GDP growth In 2009Q4, … Continue reading The Case of the “Disappearing Stimulus” and the “Illusory Inventory”
Day: March 9, 2010
Quotes from the Freshwater/Saltwater Wars
Brad Delong summarizes and links some quotes from dueling Freshwater (Classical Macro) vs. Saltwater (Keynesian and others) at Macro Wars The conflict in many ways boils down to this: is economics to be philosophy where internal, logical consistency of the theory is most important and absolute faith in the theory is commanded of all true-believers … Continue reading Quotes from the Freshwater/Saltwater Wars
EconProph 