Wednesday, April 16, 2008

There is no such thing as MACRO! By Chandra

After read friend Jayakamal mail on The Muddle that is Macro, by Arnold Kling. The last line of that post read like this “Every macroeconomic pronouncement should be accompanied by a disclaimer that says, "This is just my opinion. We don't really know."
Within few second I got another mail, it is exactly on the same subject of MACRO what a pity macro. It reads
“It reminds me of the moment back in 1971 when Richard Nixon proclaimed, "We are all Keynesians now" -- eight years after Milton Friedman had published his book "A Monetary History of the United States, 1867-1960" and about an hour and a half before a consensus built that Friedman's work consigned Keynes to the dustbin of economic history”.

To my mind the macro means, the sky, the sea and the earth nothing else, never think that the human being are macro in their mind, it is stupid that to think!

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