Monday, May 2, 2011

Pg 201-203

201-203

This section talks about how Romer took the opposite side of the growth argument of other economists during the 1970’s. The majority of economists had a doomsday idea of it all. The author talks about how it wasn’t quite as bad as the Great Depression or other times in history but it was still a common feeling. Romer took the opposite approach bringing out that there had been growth over the recent history and that he felt it would continue. He stated that he was trying to cause a problem but rather he was trying to reconcile a contradiction in ideas and things he was seeing in economic beliefs and the data he had.

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