Mr Khan said:
I'd say that such unpredictability is only true of the private sector, however. Macro is ultimately about the interaction of the private sector, government controls through fiscal policy, and the central bank through monetary policy, the latter of which are quite easily controllable. You're not going to get precise results, but you can nudge the system in the general direction you want it to go. |
I'm not sure what about the current situation makes you believe that.
Pretty much nothing has turned out the way as intended in the governments maco economic plans. I think it'd be generous to say that they nudged things in the direction they intended.
If anythings been shown recently it's that macroeconomic concepts designed decades ago just don't work on today's smarter, stubburn and more cynical consumer base and CEOs.
