“Tell me what the wires do”
This article begins with a tweet from the US economic blogger Noah Smith, who posts at Noahpinion:
Here we go, I thought – yet another mainstream attack on my non-mainstream economics. But why on earth would he see Minsky – my simulation program for modelling the economy as a fundamentally monetary system – as basically absurd? Because “DSGE modelling is so much better”, perhaps? Or because there are so many other good system dynamics programs already, why produce another one?
The battle was then started:
And then, suddenly, I realised that this wasn’t going to be a battle at all:
“Tell me what the wires do”? Oh dear…