Economic Essay

Saltwater

Freshwater

Market usually works with some “except”

The water is not “Pure” but with many chemicals.

Like Neo-classical school

Market economy

Market always works

General equilibrium.

Tend to be Democrats

Tend to be Publicans

Endogenous

Recession and Recovery Circle

Exogenous

Recession was due to the exogenous shock.

irrational

rational

Demand side

Supply side

Truth

Need “micro-foundations”

Beauty

Formulas