What’s Wrong With Modern Macro?

After 15 posts, 17,795 words, and about 9 months, my series of posts on the problems with modern macro is finally complete. If anyone cares, here is the list of all the posts in order.

Part 1: Before Modern Macro – Keynesian Economics

Part 2: The Death of Keynesian Economics: The Lucas Critique, Microfoundations, and Rational Expectations

Part 3: Real Business Cycle and the Birth of DSGE Models

Part 4: How Did a “Measure of our Ignorance” Become the Cause of Business Cycles?

Part 5: Filtering Away All Our Problems

Part 6: The Illusion of Microfoundations I: The Aggregate Production Function

Part 7: The Illusion of Microfoundations II: The Representative Agent

Part 8: Rational Expectations Aren’t so Rational

Part 9: Carrying on the Torch of the Market Socialists

Part 10: All Models are Wrong, Except When We Pretend They Are Right

Part 11: Building on a Broken Foundation

Part 12: Models and Theories

Part 13: No Other Game in Town

Part 14: A Pretense of Knowledge in Macroeconomics

Part 15: Where Do We Go From Here?

If you made it through all of them I’m not sure if I should congratulate you or feel sorry for you, but either way thanks for reading.

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