The Traderszone Network

Published in TZ Latest News 28 April, 2015 by The TZ Newswire Staff

Pop macroeconomics

Very few people understand economic theories such as supply and demand, the quantity theory of money, comparative advantage, AS/AD, etc.  As a result, if journalists explained things using these economic concepts, their readers would be hopelessly confused.  Thus even the elite news media tends to rely on some version of what Paul Krugman once called “Pop Internationalism.”  It’s hard to blame them, but unfortunately this analytical apparatus uses economic terms in a very different way from how economists use the terms.  So while their readers can follow the articles, I cannot.

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