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Hey, I spent Sunday morning thinking about macroeconomic theory.🤓
MacroMania: A Journey in Macroeconomic Thinking andolfatto.blogspot.com/2021/02/a-jour…
David Andolfatto
63.4K posts
David Andolfatto
@dandolfa
Construction worker turned academic turned central banker turned academic again. Chair, Economics Department @MiamiHerbert University of Miami
- I think she answered this pretty well, actually. All spending *should* be thought of in terms of “ROI.” If a policy is worth pursuing, how it’s “funded” shouldn’t matter.NEW: Kamala Harris struggles to answer after a reporter asks her about her economic policy, says “return on investment” four times. Reporter: Can you explain how you're gonna pay for your policies? Harris: Well, I mean, you just look at it in terms of what we are talking about,
00:00 - A bit of personal news. Today is my last day at the Fed. Am a bit sad about leaving, but at the same time am excited to announce my new position as head of the economics department in the Miami Herbert Business School at the University of Miami.
- Replying to @MylovanovA little too early to call, Tymofiy. Look at Libya.
- Mainstream economics does not “rely on calculus to optimize.” It assumes people have objectives and that they act on those objectives, subject to constraints. If one would rather understand/interpret behavior by assuming people have no objectives or constraints, feel free. 😇Mainstream economics continues to rely on Newtonian mathematics — using calculus to optimise, subject to constraints, an approach not suited to understanding macroeconomics or human behavior. @TimHarford Nice shoutout to Vela Velupillai, my former professor at The New School
- If labor markets are so tight, why are real (inflation-adjusted) wages not rising rapidly?This Post is from an account that no longer exists. Learn more
- What is the point of digging this metal out of the earth, processing it as bullion, only to store it back under ground? What economic or "strategic" purpose does this bizarre activity promote?#todaysgoldfact There are 147.3 million ounces – around 4,600 tonnes – of gold stored in the US Bullion Depository at Fort Knox. #XAUUSD #gold #PreciousMetals #Bullion #guardianinternationalgold #guardiangold
- This is my America.A man in Minnesota was saved by bystanders after he was pinned inside a burning car on the side of the highway. Never forget…heroes walk among us.
- Big oil seems to have pivoted from price-gouging to predatory-pricing tactics at 9am this morning.Oil is tanking again bloomberg.com/news/articles/…
- Waller doing much of the heavy lifting for FOMC since his arrival at the Board. Don’t miss him on CNBC this morning at 11 AM. 💪
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