Toward a Revolution in Macroeconomics.

From: World and I | Date: August 1, 2003| Author: Douglas, Heman Cortes | Copyright information

Hernan Cortes Douglas is a Luksic Scholar at Harvard University, David Rockefeller Center.

"This expansion will run forever." So said an MIT distinguished professor of economics, in an article published in the Wall Street Journal.1 Think about it. A respected leader in the field comes to a conclusion about economic behavior that defies the entirety of history. As that article appeared on July 30, 1998, we know that its conclusion also failed to accommodate the future, bu...

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