One of the few textbooks to highlight problems with macroeconomic - TopicsExpress

One of the few textbooks to highlight problems with macroeconomic modeling based on the income form of the quantity equation’s was my mentor Fred R. Glahe’s Macroeconomics Theory and Policy. The discussion is around p. 221 in the linked 3rd edition. This edition was one of the few (only) texts that had a section on Austrian business cycle theory. The text was also one of the best in highlighting hidden assumptions in Keynesian analysis. The problems with the simplified Keynesian version is foundational, and is the result of basing macroeconomics on national income product concepts as Hayek attempted to show beginning in the late 1920s. bastiat.mises.org/2014/04/why-keynesians-dont-understand-the-macro-economy/

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