CEC2 532 Lecture Notes - Lecture 1: Harry Dexter White, Lytton Strachey, Aph Technological Consulting
7 Feb 2018
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Document Summary
The global economy is failing to thrive, and its caretakers are fumbling. Greece took its medicine as instructed and was rewarded with an unemployment rate of 26 percent. Portugal obeyed the budget rules; its citizens are looking for jobs in angola and mozambique because there are so few at home. Germans are feeling anemic despite their massive trade surplus. In the u. s. , the income of a median household adjusted for inflation is 3 percent lower than at the worst point of the. Whatever medicine is being doled out isn"t working. There is a doctor in the house, and his prescriptions are more relevant than ever. But even in the past tense, the british economist, investor, and civil servant john maynard. Keynes has more to teach us about how to save the global economy than an army of modern ph. d. s equipped with models of dynamic stochastic general equilibrium.
