the spell over both pk and taylor

permanent income hypothesis uncle milty
    one of akerloffs big five

the independence of consumption and current income
 (the life-cycle permanent income hypothesis);

the irrelevance of current profits to investment spending (the Modigliani-Miller theorem);

the long-run independence of inflation and unemployment (natural rate theory);

the inability of monetary policy to stabilize output (the Rational Expectations hypothesis);

 the irrelevance of taxes and budget deficits to consumption (Ricardian equivalence)