[The Pack Knight]

The difference is microeconomics are reality while macroeconomics are political voodoo used to justify a panoply of bad ideas that have plagued us over the years.

Such as the idea that it is somehow a bad thing that our economy has strengthened under Trump, putting more money in our pockets so we can buy more stuff and consequently increase our “trade deficit” with China. Because some people have an inexplicable obsession with seeing us export more than we import, as though that is somehow the definition of prosperity.

I suppose a “nationalist” will tell me nations like Nigeria and Papua New Guinea are “winning,” because they always run trade surpluses. No thanks.

[central_va]

Adam Smith in the 18th century never envisioned multi national corporations closing factories in England and moving production to the third world to exploit cheap labor and then re importing the same product back into England duty free! Smith would have been hung for that. That is not Free Trade. That is f--k trade.

I repeat: Adam Smith would have been hung if he suggested any of that.

[Pelham]

“The difference is microeconomics are reality while macroeconomics are political voodoo”

So when Reagan’s team used macroeconomic modelling to develop their supply side program they were engaged in ‘voodoo’. That’s the econ equivalent of flat earth theory, but thanks for playing.