David Chester
PROJECT: Macroeconomics Thought

Science : knowledge : macroeconomics : modelling : better : :

About the project:
Macroeconomics needs to be better understood

The Problem:
Today the ways macroeconomics is understood and taught are old and poor in their logic and have little science. The experts resist any new ideas, and so another generation of badly equipped graduates passes into our society and influences our governmental policies. It is not politics that need correction, the methods of analysis are to blame.

The Solution:
Their thinking is incorrect, but I can help provide a better solution to this situation. It is in my recent book "Consequential Macroeconomics--Rationalizing About How our Social System Works", I provide an improved way to model the whole system and to show how its particular structure affects the way it behaves.



David Chester wrote on June 23, 2016, 17:15 :

In a way the need for giving assistance people (which TOM sets out to achieve) can be extended to badly educated students whose knowledge of the subject of maceoeconomics may subsequently cause them to make wrong decision in business, be it private, company or national. This new thinking will heal the damage of our nation, due to its poor ways of macroeconomics decision-making. The book provides a tool for how to explore policy changes--it is non-political.

David Chester wrote on December 24, 2015, 17:27 :

I wish to have a chance to teach my methods to anyone with interest in finding out what is true about our social system functioning.

David Chester 24.12.2015 17:30
This is not a means for getting my book publicized, but it is about getting my ideas spread! Interested readers can write to me at and receive a free reviewer's e-copy. Just tell me what your interest is and who you are.

David Chester wrote on December 24, 2015, 17:26 :

Consequential Macroeconomics--Rationalizing About How Our Social System Works

The 240 year old problem of making macroeconomics a true science at last has been solved! Past macroeconomics theories have never properly modelled the structure of our society, but here it is to be found. Their over-simplified results are unsatisfactory, whilst more recent computerized methods are unsuitable for student-learning. This book presents a logical, compact, but complete and comprehensive theory about how our social system actually works, viewed from a perspective that is sufficient to capture it all, whilst providing a good picture of its various role-playing entities, their detailed activities and functions.

Starting almost from scratch, the assumptions and definitions allow the construction of a seamless model that is logical in its derivation and methods. Details are given about the circulation of money, and the opposing flows of goods, services, rights for access, valuable documents, etc, with some original ideas in the subsequent development. The book is presented in 6 parts namely: getting started, the model, analysis, decisions, money and consequences. It includes 4 hand-calculated examples, with many figures, tables and 7 appendices. It is suitable for undergraduate students of economics who wish to avoid the confusion of past explanations. They should have some acquaintance with high-school economics and mathematics, to include elementary matrices and the notation of the calculus. This book is useful for teaching purposes, because of its more general terminology (with definitions) than ever seen before. The development also opens the way for research.