Longrunonomics vs. Shortrunonomics
Harvard Business Review
DECEMBER 9, 2010
Behavioral finance stayed on the margins. Longrunonomics is what's also referred to as neoclassical economics, the logical, elegant study of incentives, utility, and equilibrium that has formed the core of the discipline for 150 years. It doesn't offer much hope, though, for clear guidelines to macroeconomic decisionmaking.
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