Paul Romer on the state of macroeconomics

Paul Romer, from whom I had the privilege to receive instruction in the first semester of my PhD studies, and who has gone on to great things, sees trouble in the way mainstream macroeconomics is done. He has been writing about this in various ways for a while, notably when he introduced the notion of “mathiness” (search for the term on this very blog to see what I had to say about it). His diagnosis about the trouble with macroeconomics, which is quite convincing to me, is here.

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