“Having a rational discussion with these guys is something like having afternoon tea with a couple of hyperactive ferrets.”
Actually, something fun — and remarkable — is happening. Macroeconomists are doing some hard thinking about how a math construct might differ from an actual money-using market process. Or at least, they are trying to do such thinking. No surprise, they aren’t very good at it.
But that’s not all! (as they say on TV) . It’s also Back to Wicksell week. (Just don’t be so gauche as to mention disaggregated and changing production processes or the influence of changing money supplies and interest rates on any of that … ).