The Backlash Continues
On the appalling state of US macro economic debate (and the US economy) – an outsider’s view:
The debate has degenerated into a political cage match in which normally very articulate professors make very crude and naive comments. It seems that economists currently do not believe in presenting a reasonably balanced picture based on modern economic research by researchers belonging to different schools of thought. Instead, most economists seem to present an extremely simple picture, based on a very narrow set of assumptions that fit their own political view, without caring at all about any research results pointing to other realities.