The economy can be likened to a gigantic puzzle with a motive that is constantly shifting. To create a full image, we must use many scattered pieces of information that – when put in the right gaps – form a meaningful whole.

Sharp tools are needed – a “makrologik” (in English: a “macro logic”) – to assess the relevance of each piece and its relationship to other pieces. Makrologik is therefore a framework of causal-realistic economic theory, historical experience and insights from other disciplines that put isolated events into a fuller context. When different perspectives are integrated they can jointly provide valuable clues and guidance towards a clearer future.