Saturday, January 15, 2011

Tyler Cowen is better than this...

He asks "when will people move away from pure AD theories of unemployment?", and my response is much like [Mayor] Bill Woolsey's: "who has a pure AD theory of unemployment?" (emphasis his, but I concur). Nothing will get me to discount the value of your criticism faster than saying something like "all you ever talk about is deficient demand, and you don't even explain that".

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