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by imtringued 1622 days ago
>5. Mainstream macro says money is neutral in the long run, non neutral in the short run. This might be what you're looking for: the effect of short term non neutrality of money on relative prices across the overall economy.

That's only true if you accept war and revolution to be a mechanism for reaching equilibrium over the long run.

1 comments

Interesting! I don't see the connection between money neutrality, long run equilibrium, and war & revolution. What's the story here?