Saturday, September 22, 2012

Unlearning Economics — Endogenous Versus Exogenous Money, One More Time

I’ve always sided with endogenous money because it is supported by the evidence. If anyone can offer me contrary evidence about the above or other relevant hypotheses, I’ll be happy to listen. But economist-y special pleading about how, even though exogenous money is wrong, the economy behaves as if it is right, or about how I’m not allowed to refute ‘centuries of theory,’ is simply not enough when the evidence is this strong.
Unlearning Economics
Endogenous Versus Exogenous Money, One More Time


No comments: