"Keynes understood, why can’t New Keynesians?" http://feedly.com/e/9hHQRs27
@csuwildcat @mattpodwysocki it's only "sneaky" because (as Stiglitz showed) it doesn't exist. Magical thinking won't bring it back.
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@slightlylate@mattpodwysocki I don't subscribe to a perfect Invisible Hand model, but on balance the market optimizes prices and products. -
@csuwildcat@mattpodwysocki : you're just confusing cause with effect. Markets are an outcome of human behavior. Hence market failures. - 2 more replies
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