About

All of the ideas posted here come from a particular approach to macroeconomics I developed in my last year of college. In a nutshell, I believe that all economies are subject to three basic constraints: the capacity to produce, determined by technology, capital, natural resources, institutions, etc, the state of expectation, determined by our imperfect estimation of future prices, and the capacity to exchange, determined jointly by the capacity to produce and the state of expectation.  For the wonkish side of my approach (graphs and equations and equilibriums, oh my!) check out the theory tab

My two favorite economists are Adam Smith, the so-called "father of economics" and founder of the classical school, and John Maynard Keynes, the founder of the Keynesian school. Today debates about macroeconomic policy tend to cleave into either the classical camp or the Keynesian camp. I sympathize with both sides and am often frustrated by the ideological charge and repetition in the debate. 

I would like to live my life (I'm only 22) in a world where economic policy makers confront the truly sticky (pun intended) questions productively instead of bickering back and forth. I also believe that there is no reason economic theory should be inaccessible to anyone. Economics may have evolved into a heavily mathematical discipline emphasizing statistical evidence, but the root principles that govern the wealth of nations are powerfully simple.

That said, I try not to take myself too seriously; that's why my favicon is a green duck. For more about me, check out melaniefriedrichs.com or email me at smithandkeynes@gmail.com