Category: macroeconomics and care

How I Learned to Love Macro

I have despised macroeconomics–even relatively innovative, post-Keynesian, gender-infused versions—for many years, for two big reasons. First, macro remains largely focused on an output variable, Gross Domestic Product, that systematically mismeasures the total value of material goods and services produced, Second, it treats the quantity of one of its most important inputs, labor, as exogenously given and/or relatively unimportant. This is… Read more →