Timmy elsewhere

I’ve just filed a piece for a certain professional body publication. One which a certain person is a member of and I am pretty sure he reads the mag.

Hoping it will make him choke on his cornflakes, frankly. Neoliberal sophistry about how macroeconomics is shite at forecasts and thus we cannot plan the economy.

9 thoughts on “Timmy elsewhere”

  1. They also have various “faculties” (specialist groupings) that each issue their own magazines / publications? One of those?

  2. dearieme: not quite, macroeconomics is more of a descriptive discipline, it’s a subset of history. It’s good enough at looking out of the window and saying “it’s raining”. It’s not so good at saying if it will rain tomorrow.

  3. I’ve always assumed that macroeconomics forecasts are inversely correlated with complexity. For instance we can say that when inequality becomes too great there will be a revolution. The problem is we can’t refine that enough to say at what point a revolution will start in a particular country. We also can’t predict the severity of the revolution.

  4. ” we can say that when inequality becomes too great there will be a revolution”
    Erm, not really, if your definition of the inequality being too great is that revolution outcome you mention. A variant of the ‘No true Scotsman’ assertion.
    Oddly though, perception of inequality is more of an issue than inequality itself as this ASI post says. So if you have a flash car, be discrete about it. Unless you have a babe and a flash car, then show off by all means.

  5. Henry Marsh,

    Thank you. Changing it to perceived inequality does clarify the statement.

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