MAINSTREAM macroeconomics has a pretty poor reputation these days, both among the public at large and among economists in other fields. This is hardly surprising. There is little consensus on even the most basic questions in macro. Ask top academics (http://www.economist.com/node/21564175) why America’s post-crisis recovery has been so slow (http://www.economist.com/blogs/freeexchange/2012/10/polling-experts) and you will get many different conflicting answers (http://www.economist.com/blogs/freeexchange/2012/10/polling-experts-0) . But the most obvious reason for the widespread disdain is that the profession failed to predict that the biggest and most painful downturn since the Great Depression was even possible.
{"title":"How We Got Here","authors":"Jon S. Bailey, M. Burch","doi":"10.2307/j.ctt6wpj47.7","DOIUrl":"https://doi.org/10.2307/j.ctt6wpj47.7","url":null,"abstract":"MAINSTREAM macroeconomics has a pretty poor reputation these days, both among the public at large and among economists in other fields. This is hardly surprising. There is little consensus on even the most basic questions in macro. Ask top academics (http://www.economist.com/node/21564175) why America’s post-crisis recovery has been so slow (http://www.economist.com/blogs/freeexchange/2012/10/polling-experts) and you will get many different conflicting answers (http://www.economist.com/blogs/freeexchange/2012/10/polling-experts-0) . But the most obvious reason for the widespread disdain is that the profession failed to predict that the biggest and most painful downturn since the Great Depression was even possible.","PeriodicalId":350760,"journal":{"name":"The RBT® Ethics Code","volume":"93 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122531056","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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