Tag Archives: Keynes

The Instability of Moderation – NYTimes.com.

Bezugnehmend auf den Artikel von Brad De Long, stellt Krugman weitergehende Fragen. Insbesondere hebt er hervor:

Intellectual Instability:

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But economists were bound to push at the dividing line between micro and macro – which in practice has meant trying to make macro more like micro, basing more and more of it on optimization and market-clearing. And if the attempts to provide “microfoundations” fell short? Well, given human propensities, plus the law of diminishing disciples, it was probably inevitable that a substantial part of the economics profession would simply assume away the realities of the business cycle, because they didn’t fit the models.  Read more...