Macroeconomics was one of the casualties of the 2008 global financial crisis.
Conventional macroeconomic models failed to predict the calamity or to provide a coherent explanation for it, and thus were unable to offer guidance on how to repair the damage.
Despite this, much of the profession remains in denial, hankering for a return to “normal” and in effect treating the crisis as just a rude interruption.
Mark Cliffe Project Syndicate 9 September 2019
Despite this, much of the profession remains in denial, hankering for a return to “normal” and in effect treating the crisis as just a rude interruption.
Mark Cliffe Project Syndicate 9 September 2019
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