Friday, November 4, 2011

Integrity in Macroeconomics

It takes a remarkable amount of integrity to make such an honest and humble statement about macroeconomics.

There are times when the economy works well and times when it doesn’t, and when it works well it’s easy to find a job and when it doesn’t work well it’s really hard to find a job, but we don’t really understand those differences.
—Russell Roberts in “Ramey on Stimulus and Multipliers,” EconTalk, October 24, 2011.

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