Macroeconomics is a pseudoscience, like astrology. It’s time for everyone to start pointing and jeering.https://twitter.com/hbdchick/status/845776954594938880 …
They have replaced old, failed models that seemed to make sense a priori with new models that seem to make sense a priori.
-
-
They have been doing that for decades, and the most recent models had no predictive value.
-
The new ones may “make more sense” in light of recent history, but unless/until they predict, I’ll assume they’re meaningless.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.