Robert Leeson wrote: > ----------------- HES POSTING ----------------- > I am grateful to the AD True Believers for providing insights into how curves and equations capture, not reality, but the imagination of some economists: > > I think, therefore I am, > I derive it, therefore it is. Given the previous discussion, I assume that Robert Leeson means to include me among "AD True Believers." Let me point out that such a conclusion would outrun the evidence. The point of my intervention was to try to provide some clarity, which I found completely lacking in the discussion, about where the AD comes from and how it relates to other relationships in standard textbook models. But far from being a true believer, neither the AD curve nor the LM curve are elements of the core of my textbook in progress. Kevin Hoover