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Tyler Cowen ponders the metaphysical macroeconomics of Superman:
Let’s say we had an altruistic and incorruptible Superman, how should he allocate his efforts to improve the macroeconomy?
An interesting discussion ensues in his comments section. Feel free to add yours there, here, or both.
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Since the very beginning of macroeconomic analysis (and especially since the 1960s; remember Walter Heller, James Tobin and many others), macroeconomists have been acting as if they were supermen. The problem is to recognize the limits of macroeconomics as shown in a recent review of the field by G. Mankiw (or not enough altruism and honesty?)
