Saturday, November 5, 2016

Jason Smith — A list of unsupported narratives in macroeconomics

I was watching Money for Nothing last night (exciting Friday night, I know) and since I had just compiled a list of valid and not so valid arguments against economics I thought of adding a valid one about creating false narratives that will link to this post. Humans love to create narratives; it's one of our skills. Macroeconomics loves a good story, and Money for Nothing is a good example (most of the narratives below appear in it).
The (potentially growing) list below will consist of a set of narratives that are not conclusively supported by data. The general takeaway is that macroeconomic theory is not yet good enough empirically to support any particular story….
Information Transfer Economics
A list of unsupported narratives in macroeconomics
Jason Smith

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