• 00:00    |    
    Initial credits
  • 00:06    |    
    Introduction by Hugo Maul
  • 00:37.5    |    
    Why is macroeconomics important?
  • 01:50    |    
    What do you recommend for the study and understanding of macroeconomics
  • Microeconomic principles
  • 03:34    |    
    What concepts summarize macroeconomics?
  • 05:17    |    
    What is your analysis on labor market and how can unemployment be corrected?
    • Quotes Milton Friedman
    • Analysis about unemployment
  • 09:46    |    
    What is the natural rate of unemployment?
    • Labor law limitations
    • Unacceptance of unemployment
  • 13:14    |    
    Do you think labor policies protect current but not future employees?
  • Flexibility in hiring and firing
  • 14:44    |    
    Does inflation help reduce rigidity in the labor market?
  • Effects of inflation
  • 17:11    |    
    Does inflation reduce unemployment?
  • Temporary gain, negative outcome
  • 19:03    |    
    Is it hurtful for central banks to lose credibility?
  • 20:51    |    
    Do you believe it is currently possible the rediscovery of Milton Friedman's ideas about monetary policy?
  • 23:30    |    
    Is it possible to return to rules rather than discretion in regards to economic and monetary policies?
  • 25:52    |    
    Why did public policies change from rules to discretion?
  • 28:06    |    
    What are the burdens caused by the government?
  • Reduction of government intervention
  • 30:17    |    
    Is it better to have a balanced budget or allow the government to stabilize the economy?
  • 31:35    |    
    Final words
  • 31:51    |    
    Final credits

Importance of Macroeconomics

New Media  | 31 de julio de 2012  | Vistas: 2679

In this interview, Jerry Jordan discusses several issues concerning macroeconomics, stressing the importance of its understanding in order to effectively apply it in domestic, foreign, and everyday’s economy, emphasizing the significance of being aware of the sound microeconomic principles.

He talks about the relation between macroeconomics and the labor market, pointing out that labor has been, mistakenly confused with the dynamic of commodities. The topic of unemployment is also addressed, mentioning how labor law limitations, inflation, and other elements prevent policy makers from providing effective solutions to the problem.

Jordan concludes by stating that less government intervention will only result in benefit for society in the field of economy and markets.


Jerry L. Jordan is an economist, president of the Pacific Academy…