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  letter Misunderstanding a Crisis

  In response to “A Lingering Crisis”

  [short_description] Modern macroeconomic theory has few answers to offer its practitioners. Its theories focus on aggregate spending when they should instead focus on the plans of economizing agents.

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  letter Economies are Ecologies, not Engines

  In response to “The King’s Revolt”

  [short_description] An economy is a system of agents and connections among those agents. There are, however, two distinct ways of conceptualizing economic systems. One is mechanical, the other is ecological.

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