Why The "Friedman Thermostat" Analogy Should Be Uncomfortable For The Mainstream
bondeconomics.substack.com
Nick Rowe’s article on Milton Friedman’s Thermostat has popped up in online conversation. For those of you unfamiliar with it, it is about inferring statistical relationships between inflation and interest rates. Although I agree that it is possible to do some silly correlation analyses between those variables
Why The "Friedman Thermostat" Analogy Should Be Uncomfortable For The Mainstream
Why The "Friedman Thermostat" Analogy Should…
Why The "Friedman Thermostat" Analogy Should Be Uncomfortable For The Mainstream
Nick Rowe’s article on Milton Friedman’s Thermostat has popped up in online conversation. For those of you unfamiliar with it, it is about inferring statistical relationships between inflation and interest rates. Although I agree that it is possible to do some silly correlation analyses between those variables