4 ms·
Thanks for the explanation! For a layperson like myself in this field, this was not immediately obvious from the qualifier "real".
by electrograv 9y ago
Thanks for the explanation! For a layperson like myself in this field, this was not immediately obvious from the qualifier "real".
- jdavis703 9y agoI'm also a layperson, so if a real economist posts something contradictory you'll probably want to listen to them. Of course economists are always contradicting each other so YMMV.
- graeme 9y agoI majored in econ in undergrad, and you’re correct.
- mcguire 9y agoNote: "real" in this comment does not refer to a post-inflation correction economist.
- guest 9y agoI'm not a layperson but neither am I working in the field. You should always differentiate between a national economist (Keynes - spend when you are in recession, stockpile in progression - gives a stable rise) and the corporate stooges (Friedman et al - always spend forever in debt - gives erradic ups and down which enables aristocracy to contain power by having better access to information).
- astura 9y agoHere's the Wikipedia: https://en.wikipedia.org/wiki/Real_versus_nominal_value_(economics) https://en.wikipedia.org/wiki/Real_versus_nominal_value_(eco...