Mar 19, 2013

A Little Untidy Science

Because macroeconomics is closely related to the economic problem of the day, it does not yield its greatest rewards to those whose primary interest is abstract. Macrotheory is a little untidy at the edges. But then the world is a little untidy around the edges.
—Rudiger Dornbusch, Stanley Fischer & Richard Startz

Oh, I like this! It perfectly explains my impression on the subject. What textbooks say make sense, and I think I got it on the surface. Still, I can’t help feeling something missing; haven’t yet captured something profound, impressive, and perhaps elegant. I know it must be so given the fact that it’s always the topic at every corner of the society. This piece of wisdom has given me a new perspective for fully appreciating Macroeconomics.