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> That some sectors boom while others fade is well known, but we only care about the final aggregate. Why? I really don’t think it’s a good idea to try to meas
by soVeryTired 4y ago
> That some sectors boom while others fade is well known, but we only care about the final aggregate.
Why? I really don’t think it’s a good idea to try to measure something as complex and multi-faceted as the evolution of an economy with a scalar.
- phkahler 4y ago>> I really don’t think it’s a good idea to try to measure something as complex and multi-faceted as the evolution of an economy with a scalar. Right? Even if we look at a single number, why not a distribution of that rather than just a total/average? I think economics is an area that needs a LOT of work. Why we expect the fed to achieve 2 objectives (regulating the economy and inflation, and maybe unemployment) by turning a single knob (interest rate) is really strange to me. Meanwhile, congress thinks they can simply legislate outcomes...