Re:Economists don’t understand much about the macroeconomy
by SiempreViernes on Thursday September 19, 2019 @08:28AM
(#21015501)
What all this amounts to is that there is no theoretical understanding of the the social interactions that constitute the economy, only fitted relationships to the actions of aggregating entities like companies.
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Re:Economists don’t understand much about the macroeconomy
by nabla9 on Thursday September 19, 2019 @02:04PM
(#21018820)
That would require relatively complete "Theory of human" and also understanding the variety of human behavior. Human are also chancing their behavior. Different generations respond differently to same signal.
But all this does not mean that macroeconomics is useless or that it's not getting results. They are just relatively modest.