Why Macroeconomics is Bunk

[boffo]

Arnold Kling give a more scientific explanation of something I've been arguing for the last ten years, which is that Macroeconomics is complete and utter B.S. Realizing this was one of the main reasons I left Econ grad school

Comments

[pasquin]

You've given reason to what I've intuited for years.

[burntbythesun02]

>So which model do macroeconomists pick? Whichever one matches their >preconceived political notions.

Isn't Kling himself - along with the Austrian school - motivated by this? How many of them decided to become Austrians because they first considered the first principles underlying economics, and then decided that the political conclusions they drew followed? I suspect he and others became interested in Austrian economics because of their interest in liberty, and then argued to justify a deductive approach rather than an inductive approach. There are other libertarians who prefer a mathematical approach but I suspect those who don't simply find the math boring and tedious.

[m_fallenangel]

When I took my social sciences CLEP test as an incoming college freshman I did exceptionally well. The only questions that threw me were the, "If the dollar is devalued against the British pound, what will be the effect on the yen," type. I always picked C because there wasn't a, "Beats the hell out of me," response.