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Critique on Macro Economic Modeling

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18 April 2023, 09:48 AM
Axtremus
Critique on Macro Economic Modeling
https://www.theatlantic.com/id...rump-tax-cut/673749/

quote:
WE HAVEN’T BEEN MEASURING HOW THE ECONOMY REALLY WORKS

Questionable theoretical assumptions drive economic models to rubber-stamp disastrous policy changes.


Main point seems to be that prevailing models still assume a competitive economy while the market has really become more consolidated. It talks of some economists creating a new model that takes market concentration into account and compared them.


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