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Macroeconomics is the study of the aggregate forces of a nations economy as a whole, using such data as price levels, unemployment, inflation, and industrial production. ... (Colander, 2001)
Herman Cortes Douglas, the author of this particular article, believes that macroeconomics is out of date. ... He also referenced John Maynard Keynes, the renowned father of macroeconomics. ...
Douglas believes that the tools of macroeconomics are more effective than they were in 1920, but at the same time insists that experts will never be able to predict a financial crash as that of the 1920’s. With macroeconomics, a good/strong financial market will only get stronger. ...
References:
Herman Douglas Cortes, 2003, “Toward a Revolution in Macroeconomics”, News World
Communications Inc. ... Friedman, Dictionary of Business Terms, Barron’s 2nd Edition, 1994
David Colander, Macroeconomics, Special Edition, 2001
Approximate Word count = 735
Approximate Pages = 2.9
(250 words per page double spaced)
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