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is "Microfoundations and Macroeconomics" any good?

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Wheylous Posted: Tue, Dec 11 2012 8:11 AM

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It's by Horwitz:

http://library.northsouth.edu/Upload/Microfundations%20and%20Macroeconomics.pdf

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Smiling Dave replied on Tue, Dec 11 2012 1:20 PM

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In general, Horwitz is a very smart guy and knows his stuff, with one blind spot. He thinks printing more money is sometimes a good thing.

Look at his article on Say's Law and you'll spot it there, in the last section where he goes on about "excess demand for money". He writes that a recession is "an excess demand for money. Goods are going unsold because buyers cannot get their hands on the money they need to buy them despite being potentially productive suppliers of labor."

I don't know how he reconciles that with ABCT, which gives a totally different reason for recessions and goods going unsold, malinvestments. He is familiar with ABCT, and I think he thinks it is true.

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It's easy to refute an argument if you first misrepresent it. William Keizer

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myhumangetsme replied on Tue, Dec 11 2012 6:35 PM

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I seem to remember Jonathan Catalan speaking very highly of the book, but I can't seem to find a source for it.

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is "Microfoundations and Macroeconomics" any good?

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This post has 2 Replies | 1 Follower