Fallacy of Composition: A Keynesian Cross vs Another on the Road
When you come across a fork on the road, what are you gonna do? Take it, or so says Yogi Berra . What if a cross on the road? Just take it, stupid, or so would Berra say. What if it’s a Keynesian Cross ? Umm……, please ask someone else, or so would even Yogi say. . Many innocent students of macroeconomics have hard time understanding the Keynesian Cross. Don’t worry; be happy, “You are not alone.” Generally speaking, macroeconomics is for the heavens; naturally, it is not only unknowable to each student but also arcane to the rest of us all. Particularly, we’ll never know what the shiny “Keynesian Cross” is like until post mortem . We begin with another lackluster cross. The Cross in the Market. Probably, most finance-savvy high-school students of modern times are well aware of the demand and supply curves. ...