Are they any more wrong than people who study macro and think they understand how the whole economy works? Do these wrong beliefs cash out in actions that negatively impact them?
The only thing macro impacts for most people is their conversations with other people about macro.
Do these wrong beliefs cash out in actions that negatively impact them?
Not directly. But in a collective tragedy of the commons style way, wrong beliefs about macro ultimately lead to had economic policy which in tern ultimately does negatively impact everyone.
Are they any more wrong than people who study macro and think they understand how the whole economy works? Do these wrong beliefs cash out in actions that negatively impact them? The only thing macro impacts for most people is their conversations with other people about macro.
Not directly. But in a collective tragedy of the commons style way, wrong beliefs about macro ultimately lead to had economic policy which in tern ultimately does negatively impact everyone.