10-11-2012, 05:07 AM
Well, I largely disagree with that, I have to say. I'm not sure it's helpful do cast doubt on figures unless one has concrete grounds for doing so about a concrete datapoint.
Secondly, I'm not convinced entrepreneurs make better macro-economists, but you would expect me to say that, wouldn't you (I am a macro-economist, after all)
Third, there is important corroborating evidence for what I wrote above. The underlying model is basically able to explain a whole complex of data (for instance, the absence of hyperinflation in the face of massive "money printing" or the absence of escalating bond yields in the face of terrible public deficits and debts).
Secondly, I'm not convinced entrepreneurs make better macro-economists, but you would expect me to say that, wouldn't you (I am a macro-economist, after all)
Third, there is important corroborating evidence for what I wrote above. The underlying model is basically able to explain a whole complex of data (for instance, the absence of hyperinflation in the face of massive "money printing" or the absence of escalating bond yields in the face of terrible public deficits and debts).