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You're only wrong in one respect: economists don't only look at steady states. Keynesian macro looks at frictions, for example. Economists are quite aware that
by mrtranscendence 5y ago
You're only wrong in one respect: economists don't only look at steady states. Keynesian macro looks at frictions, for example. Economists are quite aware that inflation propagates through the economy unevenly; they are not that naive as a rule.
I did learn general equilibrium in grad school, but we were not told that it was a precise description of reality.