Is Macroeconomics Believable?
By Ben W. Bolch
This article appeared in the Spring 1998 issue of The Independent Review


Macroeconomics, despite its increasing technical sophistication, has yet to bridge the credibility gap that began to widen during the stagflationary 1970s. Is confidence in macroeconomics collapsing because of faulty policy implementation or because of the weight of its own rarefied assumptions?

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