I thought that this game by the New Keynesian Mankiw (http://bcs.worthpublishers.com/mankiw5/cat_070/game.htm) was incredibly insightful in terms of how practitioners of aggregate macroeconomic analysis view the economy; unending prosperity is as simple as managing a few exogenous variables.
On a side note, do you guys think there's any practical use for the AD/AS or IS/LM models?
if i deflate the currency then i lose the game.
Yet the game keeps warning about inflation.
I gotta read more keynes and figure out this bs.
“Since people are concerned that ‘X’ will not be provided, ‘X’ will naturally be provided by those who are concerned by its absence.""The sweetest of minds can harbor the harshest of men.”
The game doesn't even make sense from a Keynesian standpoint; it keeps saying that "demand-pull inflation" happens whenever AD shifts to the right, but that only occurs when AD hits the inelastic portion of the AS curve. It's the most obnoxious game I think I've ever played.