Ep. 280 The Theory and History Needed to Refute Keynesianism and MMT
Bob Murphy Show
00:00
The Importance of Static Analysis in the Real World
Timothy Stanley: In standard consumer models that you teach in econ 101 or something well if you're using opportunity sets maybe you would do it in a higher level class right there is a sense when you start with your initial bundle and then if prices move now you can get to a higher indifference curve. But again the problem is using that static analysis overlooks certain nuances that might happen in the real world, he says. He explains how private sector fills void left by government slashing spending by two trillion.
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