{"id":23409,"date":"2016-12-06T08:50:39","date_gmt":"2016-12-06T13:50:39","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=23409"},"modified":"2016-12-06T08:50:39","modified_gmt":"2016-12-06T13:50:39","slug":"macroeconomics-in-the-crossfire-again","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2016\/12\/06\/macroeconomics-in-the-crossfire-again\/","title":{"rendered":"Macroeconomics in the Crossfire (Again)"},"content":{"rendered":"<p><em>Naked Capitalism<\/em> has the article <a href=\"http:\/\/www.nakedcapitalism.com\/2016\/12\/macroeconomics-in-the-crossfire-again.html\" target=\"_blank\">Macroeconomics in the Crossfire (Again)<\/a>.<\/p>\n<blockquote><p>\n&#8230; the standard New Keynesian model is not a Keynesian model at all \u2013 it is a monetarist model. Aside from the mathematical sophistication, it is all but indistinguishable from Milton Friedman\u2019s ideologically-driven description of the macroeconomy.\n<\/p><\/blockquote>\n<p>My political blog has always had an advantage over the economists who learned their macroeconomics much later than I did.<\/p>\n<p>The economics I learned in the early 1960\u2019s seems to work as well now as it did back then. I was lucky enough to be so busy at work in the decades that followed, that I did not have a chance to keep up on the mis-education of the time. When I had the time to start paying more attention to the subject again, I couldn\u2019t understand what had happened to the knowledge that I had learned that seemed to explain all that was happening in the economy.<\/p>\n<p>I had a similar experience with technical mis-education in my early  years of work.  As I worked in software engineering, it was mostly self teaching by reading and by working with other people on developing computer software.  I decided to take a course in computer science at graduate school at Southern Methodist University in Dallas, Texas where I was working at the time. We were studying binary searching algorithm which I thought I had understood from my own studies.  The more the course went on, the less I seemed to understand.  I had the good sense to drop the course before I ended up knowing less than when I started.  <\/p>\n<p>People who studied macro-economics in the 1980s for the first time didn&#8217;t have my good fortune of having knowledge of the topic that comported with real life experience of macro-economics.  Apparently, not so many of them could resist learning stuff that was patently false to those who understood what Keynes had explained.  <\/p>\n<p>Fifty years later, some of the economics community is learning what I knew way back then.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Naked Capitalism has the article Macroeconomics in the Crossfire (Again). &#8230; the standard New Keynesian model is not a Keynesian model at all \u2013 it is a monetarist model. Aside from the mathematical sophistication, it is all but indistinguishable from Milton Friedman\u2019s ideologically-driven description of the macroeconomy. My political blog has always had an advantage [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-23409","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/23409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=23409"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/23409\/revisions"}],"predecessor-version":[{"id":23414,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/23409\/revisions\/23414"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=23409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=23409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=23409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}