Keen Behavioural Finance 2011 Lecture 06 Part 1: State of Macroeconomics
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Uploaded by ProfSteveKeen on Sep 7, 2011
One year after the start of the greatest economic crisis since the Great Depression, the editor of the American Economic Review: Macroeconomics claimed that "the state of macro [theory] is good". How could be be so deluded? Macroeconomics has been distorted by appalling scholarship and a misguided belief that macroeconomics and microeconomics should be consistent. The best critics of this, ironically, are given by the authors most responsible for the state of macroeconomics, John Hicks and Robert Solow
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thanks for your videos!!
ScientificKiwi 4 months ago
WTF, the IS-LM model was based on a ONE WEEK time-frame?! And it hads been discredited by its creator since 1981?! What do our economist/educators think they have been researching/writing for-- a comedy act/routine?! *head-slap*
Thanks Prof, for helping me to UN-learn macro-- though I literally had to stop the video and ROFL quite a few times before I could get through it! And thank goodness I'm too old to have heard about the DSGE model... so I don't even have to UN-learn it.
ApocalypticAang 5 months ago