"The problem with socialism is you eventually run out of other people's money" - Margaret Thatcher
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design" - F.A. Hayek
This is the problem with many economic articles/posts, they are often written with zero substance and an infinite amount of ambiguity. Rajan never explains what he means by "inflation". How much inflation? Relative to what? It sounds as if he is referring to hyperinflation, and we know (hope?) that won't happen.
It is no wonder that few take this discipline serious (especially macro).
This is the problem with many economic articles/posts, they are often written with zero substance and an infinite amount of ambiguity. Rajan never explains what he means by "inflation". How much inflation? Relative to what? It sounds as if he is referring to hyperinflation, and we know (hope?) that won't happen.
ReplyDeleteIt is no wonder that few take this discipline serious (especially macro).
You may be on to something here Skeptical....
ReplyDelete