The Devil’s Dictionary of Economics
Search For: (question)
Definition Total: (1)
Page: (1) of (1)
Terms  |
Definitions |
| Question, The |
When I was a freshman in college, I took intermediate macroeconomics. The textbook came with a study guide that had a quiz for every chapter of the book. Of course I immediately sat down and took all of the quizzes to see if there was anything in my textbook that I didn’t already know. I got every question right except one – “the question.” I answered it in the Austrian way and they wanted the Keynesian answer. I realized then that this was not just a gap in my knowledge; it was the fundamental question that divides Austrians and Keynesians. See Section VII of my 2004 paper to learn what this six-word question is and see The Answer to learn how I respond now. See Contraction and Crash to see how interest rates can move in opposite directions at different times during the downturn.
|
| |
|
|
