ext_27571 ([identity profile] philmophlegm.livejournal.com) wrote in [personal profile] philmophlegm 2016-06-07 08:48 am (UTC)

Thanks!

The next step question is harder, especially if we're talking macro. Thinking about macro as an Austrian versus Keynesian debate is probably the wrong way to start though. This is certainly how many Austrians seem to think - that it's them versus the rest and that all of the rest are Keynesians. However, that ignores other important schools of thought. Most mainstream macroeconomists, especially the ones running the world's major economies for the last three decades or so, would be neither Austrian or Keynesian*.

As to a book recommendation, well as I said that's hard. Once you get past the introductory level, I find that writers don't try to conceal their personal opinions, so you'll see examples of them tweaking the facts to fit their chosen model (I remember observing this at university).

On the other hand, the fact that you're not averse to the odd curve, means that university textbooks won't be a problem. The macro sections of Begg, Dornbusch and Fischer (see above) would be a good place to start, and after that there's 'Macroeconomics' by Dornbusch, Fischer and Startz. Those both try to be fairly neutral and cover not just both sides of the debate but both sides' theories. After that, you're better off sticking to economists' blogs.





* Well actually in a loose sense, they're "all Keynesian" (Milton Friedman: "We are all Keynesian now", meaning that everyone except the Austrians saw a role for government in actively managing the economy, they just differed on how effective the different policy instruments would be.

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