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Solow is also undoubtedly angry with a lot of people due to the fact that much of Real Business Cycle theory is just the Solow model with some very stupid representative agents -- or brilliant, I suppose (since they live forever, take years-long vacations, and can anticipate everything perfectly) -- bolted on.  Anything they can't explain is the Solow Residual and hence business cycles are all about technology shocks.

Which Solow clearly thinks is completely idiotic.

Be nice to America. Or we'll bring democracy to your country.

by Drew J Jones (pedobear@pennstatefootball.com) on Sun Aug 4th, 2013 at 09:02:14 AM EST
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