Occasional Tweets: Applause-trolling does not help ― macrofoundations are provably false

 

Obviously, you overlooked that Godley/Cripps messed up #MacroFoundations on p. 24: “It is extremely useful to chose definitions such that total income and expenditures … are identically equal…" NO! this is extremely stupid.

Micro and macro inconsistencyhttps://t.co/byeOHoHHmG pic.twitter.com/gqYXybeIzo

— E.K-H (@AXECorg) July 18, 2021

For more about macrofoundations see AXECquery.