Ways in which economists overbid their cards

29 July, 2017 at 17:58 | Posted in Theory of Science & Methodology | 1 Comment

 

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  1. Modelling of macroeconomics should be as simple as possible (so its easy to follow) it should be sensible (that is close to reality, as far as we can tell) and logical (which implies a need for being mathematical, even though this is not necessarily direct by formulaed mathematics itself). The way of doing this is provided in my paper SSRN 2865571 “Einstein’s Criterion Applied to Logical Macroeconomics Modeling”. The diagram for the model has been published elsewhere, but even without having to follow all of this short paper, it speaks for itself in answering the challenge that is implied by the title. This basic model can then be expanded (by Leontieff matrices), before applying numerical and statistical data.


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