Lars P. Syll — IS-LMism and unlimited ‘ceteris paribus’ alibi

Why much conventional economics is vacuous.

Hans Albert:

The [cet. par.] clause here produces something of an absolute alibi, since, for every apparently deviating behavior, some altered factors can be made responsible. This makes the statement untestable, and its informational content decreases to zero.

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IS-LMism and unlimited ‘ceteris paribus’ alibiLars P. Syll | Professor, Malmo University