How Do You Think About Keynesian Economics?
How to Think About Keynesian Economics? Wednesday February 24, 2010#spacer{clear:left}#abc #sidebar{margin-top:1.5em}zSB(3,3) The international trade / public policy course I teach at Ivey is quite Keynesian. Next time I teach the course I will give my students Arnold Kling’s How I Think About Keynesian Economics – it is absolutely brilliant. I particularly find this part useful: Imagine that all of us were chefs, each with a different specialty. In good times, I patronize others’ restaurants and other people patronize mine. That is economic activity. In a recession, for some reason we stop going out to eat. I don’t enjoy eating my own cooking every meal, but I don’t think I can afford to go out. Since I am not patronizing your restaurant, you think you have to cut back on eating out, also. Economic activity declines. Thinking about the economy in these terms, the idea o
#spacer{clear:left}#abc #sidebar{margin-top:1.5em}if(zs>0){zSB(3,3)}else{gEI(“spacer”).style.display=’none’;gEI(“sidebar”).style.display=’none’} The international trade / public policy course I teach at Ivey is quite Keynesian. Next time I teach the course I will give my students Arnold Kling’s How I Think About Keynesian Economics – it is absolutely brilliant. I particularly find this part useful: Imagine that all of us were chefs, each with a different specialty. In good times, I patronize others’ restaurants and other people patronize mine. That is economic activity. In a recession, for some reason we stop going out to eat. I don’t enjoy eating my own cooking every meal, but I don’t think I can afford to go out. Since I am not patronizing your restaurant, you think you have to cut back on eating out, also. Economic activity declines. Thinking about the economy in thes
