Friday, September 4, 2009

Krugman on the desperate state of macro

Paul Krugman has a lengthy article in the NYTimes explaining "what went wrong" with macroeconomics. "As I see it, the economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth." Obviously, he has decided that the approval of his academic colleagues isn't important to him anymore... Any views from the macroeconomists among us?

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